NEW YORK (AP) — Twitter is plunging in early trading, topping off a terrible week for social media.
Shares slid 14 percent after Twitter reported weak growth from new users. That followed Thursday’s 19 percent drop in shares of Facebook — the biggest one-day drop in history, wiping out $119 billion in market value.
Twitter, like other social media companies, says it’s prioritizing its platform over user growth, getting rid of abusive account. That has left investors seemingly unable to value what the biggest companies in the sector, which rely on their potential user reach, are worth.