Twitter Stock Hits New Low Amid Struggles to Keep Website Up
- Company says issue was related to an internal code change
- The stock has declined more than 28 percent this year
This article is for subscribers only.
Twitter Inc. shares slumped to a new all-time low after the company’s website suffered disruptions, shutting out millions of users and underscoring concerns about the company’s efforts to boost its audience and sales.
Services including search and the news stream were unavailable for more than five hours after the company’s software engineers made changes to the service that lets people post and share 140-character status updates. The stock fell 7 percent to $16.69 at the close on Tuesday, well below the price of $26 at its November 2013 initial public offering.