Following more executive changes, Twitter’s shares are down sharply today, sliding nearly 8% in morning trading.
The slide comes on the heels of news that the social company has made Katie Jacobs Stanton its new global media boss, and made Gabriel Stricker its new chief communications officer. Twitter has a history of management changes. Investors could be skittish at the latest shifts.
Twitter, which saw its share price soar following its IPO to more than $70 per share is back under the $40 mark. Twitter is not the only technology company to retreat today, with Tesla and Netflix also taking firm whacks. Technology as an industry is down more than the larger market, which is a broadly having an off-day.
Twitter will report its earnings later this month, on the 29th. Investors expect Twitter to lose $0.01 per share on revenue of 282.44 million.
IMAGE BY Flickr USER Antonio Morales GarcÃa UNDER CC BY-SA 2.0 LICENSE (IMAGE HAS BEEN MODIFIED)
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