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Tech

Twitter Stock Slides To All-Time Low As Employee Lock-Up Ends

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A sign is posted outside of the Twitter headquarters on October 25, 2013 in San Francisco. (Justin Sullivan/Getty Images)

A sign is posted outside of the Twitter headquarters on October 25, 2013 in San Francisco. (Justin Sullivan/Getty Images)

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SAN FRANCISCO (CBS/AP) – Twitter’s stock (TWTR) is down to an all-time low after a post-IPO lock-up period preventing employees and early investors from selling expired Tuesday.

Lock-up periods prevent company insiders from selling stock following an initial public offering. CEO Dick Costolo and co-founders Jack Dorsey and Evan Williams have said that they have no plans to sell their stock when the lock-up expired, 180 days after Twitter’s initial public offering.

Still, Twitter’s stock fell nearly 11 percent on Tuesday, to $34.61. Earlier, shares hit their lowest point ever at $34.55.

Twitter went public on Nov. 7. The stock later soared as high as $74.73.

San Francisco-based Twitter’s latest earnings report surpassed expectations, but worries about user growth and engagement weighed on its stock.

Costolo appeared on the CBS Early show Monday and discussed the stock slide, as well as new partnerships the company is exploring.

TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.

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