Twitter Stock Down 41% Since Jack Dorsey Was Named CEO
Jack Dorsey was named Twitter Inc (NYSE: TWTR) CEO in early October 2015.
Since Dorsey's appointment, Twitter's stock has lost 41 percent of its value, marking a rough ride for shareholders.
Shares of Twitter plummeted to a new 52-week low of $15.48 on Wednesday before staging a brief surge to an intra-day high of $19.04 - only to reverse course and decline.
Twitter's stock recently traded at $17.20, up 3.07 percent heading into the final hour of trading on Wednesday.
Investors began buying the stock after unconfirmed reports surfaced that the company may be acquired by News Corp (NASDAQ: NWSA). However, after the New York Post's Clair Atkinson tweeted that News Corp isn't looking to acquire the company, investors began selling the stock yet again.
It's official News Corp denies Twitter rumor #nyp
— Claire Atkinson (@claireatki) January 20, 2016
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