Twitter Shares Fall 10% as Lock-up Period Ends
Twitter shares are down about 10% this morning. The plunge is linked to the expiration of a six-month lock-up period. Reuters reports that Twitter's lock-up involves about 470 million shares.Despite the 10% drop, Twitter shares remain above the $26 IPO shares.
Recent Twitter news includes the offering of larger profiles, which include pinned tweets. Amazon also recently launched shoppable tweets.
Twitter is headquartered in San Francisco. An image of the headquarters is pictured below:
Update: Twitter shares ended up falling nearly 7 points, down nearly 18% on the day. Joel Kornblau at Forbes thinks Twitter is now oversold following today's drop.
Posted on May 6, 2014