Out 7, 2016
Here's Why Twitter's Share Price Is Plummeting
Much of the takeover enthusiasm that pushed the shares up has evaporated.
First, the company's share price price TWTR -20.10% zoomed higher early in the week on reports that the company could be a takeover target for several large tech and media companies, including Google, Disney, and Salesforce. But late Wednesday, the stock collapsed after reports that poured cold water on that initial enthusiasm.
When the stock opened for trading on Thursday morning, it was almost 20% lower than it had been the day before. That wiped more than $2 billion from the company's market capitalization.
According to anonymous sources who spoke to Recode, neither Google nor Disney are interested in making a bid for the company, although both have reportedly taken a look at doing so. Apple AAPL 0.78% is also not considering an acquisition of the social network, according to similar reports.