Why Twitter Shares Are Falling
Shares of social media companies, including Twitter Inc (NYSE: TWTR), are trading lower in sympathy with Facebook, which dipped following a CBS interview with a former employee, who made criticisms of the company. A rise in yields has also weighed on the broader tech sector today.
The 10-year Treasury yield hit an intraday high of 1.508% Monday morning before dipping to around the 1.496% level. The spike in the 10-year note Monday comes after the Federal Reserve in September spoke on winding down its ongoing asset purchasing program.
Twitter is an open distribution platform for and a conversational platform around short-form text (a maximum of 280 characters), image, and video content.
Twitter has a 52-week high of $80.75 and a 52-week low of $38.93.
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