Twitter Tanking And Nearing All Time Low

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Twitter Inc

shares are trading lower by $1.35 at $29.66. The issue has been in a tailspin since the company submarined their own stock on its conference call following its upbeat Q2 report. The issue, which had been trading sharply higher immediately after the report, began to lose serious altitude when the company's CFO suggested that he is not expecting ‘sustained meaningful growth in MAU's until the mass market is reached." Twitter bears have feasting on that statement and now have the issue approaching its all time low. After a weal close on Friday ($31.01), the issue had a brief rally to $31.09 before the floodgates opened. It has continued to make new lows for the day and is now approaching its all time low from May 2014 at $29.51.