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Twitter's shares hit a new low

By Michael Cogley

Published 20/01/2016

The Twitter website was down for two hours yesterday
The Twitter website was down for two hours yesterday

Twitter stock hit a fresh all-time low as shares fell by 2.6% to $17.43 (£12) by mid-afternoon yesterday.

The shares slump came off the back of a substantial outage that saw millions of its users blocked from using the site with no warning.

The crash lasted for around two hours, with Twitter offering one update to users that it was "working towards a resolution".

It follows a bad week for the San Francisco firm that saw its first quarter results leaked by a financial intelligence company that tweeted out the information.

Despite a 74% increase in revenue last year, Twitter still made a significant loss of $162m (£114m).

Shares in Twitter plummeted last week by 18% after its financial results were leaked.

The return of the company's founder, Jack Dorsey, to the role of chief executive doesn't seem to have helped the site.

Mr Dorsey reprised his role three months ago and since then shares in the site have fallen by 24% from its IPO price of $26.

Belfast Telegraph

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