Shares of Twitter, Inc. (TWTR) continued their downward march Monday hitting an all-time low of $28.91 in response to earnings. The online social networking service extended last week’s breakdown by cracking below the $29 level. That’s a 48.36% nosedive, or $27.08 per share, from the 52-week high of $55.99 set in October 9, 2014
The stock closed at $31.01 at the end of Friday’s trading session, printing a one-year loss of 31.38% and year-to-date loss of around 14%. Twitter has plunged more than 11% since July 29, a day after the company warned that sustained user growth would come slowly.
Twitter’s stock is trading at unusually high volume Monday with 28.5 million shares changing hands. That’s nearly 9 million shares above its average daily volume and trading down 6.16% at $29.10 as of 12:46 PM ET. TWTR remains about three points above its Nov.’13 IPO price of $26 a share.