Twitter stock plummets: The social media company’s stock has dropped by 6% in a single day.
TWITTER’S stock has dropped by more than 6%, dealing a major blow to the social media behemoth.
The company’s stock price had dropped 6.05 percent as of 7.55 p.m. This lowered its worth to $58.24, and it has been continuously declining since trade began. The price of Twitter was $61.17 at the start of today’s trade.
At 1.55 p.m. (EST), the stock touched a low of $57.64.
Following the dramatic plunge, the stock’s share price has only recently began to rise.
Indeed, the stock of the social media behemoth began to fall on October 1.
It was worth $61.98 on October 1 before dipping to $58.26 on October 4.
It’s unclear what’s driving Twitter’s share price to plummet, although the company’s shares soared to $67.22 last month.
Prior to the most recent decline, the stock dropped quickly to $60.07 on September 29.
Aside from its stock price, Twitter avoided a large-scale social media outage on Monday afternoon.
Hundreds of millions of people have been unable to use Facebook, Whatsapp, and Instagram due to technical troubles.
It’s believed that the social media behemoth performed a series of adjustments to its web infrastructure that caused it to vanish from the web directory at around 4.55 p.m., as users reported troubles (BST).
The stock price of Facebook plunged 5.76 percent today as a result of the downtime.
Following the social media dropout, Google’s Alphabet stock price dropped 2.55 percent.
As a result, Twitter grabbed the opportunity to mock its competitors.
“Hello literally everyone,” it said in a tweet.
Downdetector detects occasional concerns, despite the fact that outages have mostly lessened across all platforms.
Users in the United Kingdom are still having problems, according to the aggregator, and claims of Facebook outages have escalated.
At 7.57 p.m., the number of outages had dropped to 10,456.
11,447 people have been recorded as of 8.12 p.m., which is significantly less than the peak of 57,560 at 4.57 p.m.
Facebook issued a statement saying that it is working to remedy the situation.
“We’re aware that some people are having difficulty accessing the Facebook app,” it said.
“We’re working hard to restore normalcy as soon as possible, and we regret for any inconvenience.”