Twitter slides on reported lack of interest in its sale

Social media company Twitter fell more than 13% in Monday's premarket trading as it emerged at the weekend that high-profile parties were not interested in tabling bids.

ALPHABET-A

$172.49

13:05 15/11/24

-1.76%

-$3.09

Dow Jones I.A.

43,444.99

04:30 15/10/20

n/a

Nasdaq 100

20,394.13

12:15 15/11/24

-2.40%

-502.54

Salesforce.Com Inc.

$325.26

10:57 15/11/24

-1.93%

-$6.39

Twitter Inc

$53.70

11:00 14/10/24

0.00%

-$0.00

Walt Disney Co.

$115.08

11:09 15/11/24

5.46%

$5.96

Bloomberg reported on Saturday that Salesforce.com, Alphabet, and Walt Disney, who were all rumoured to have been interested in purchasing Twitter, had ruled out making a move.

Twitter's stock, which closed at $19.85 on Friday, fell to $17.28 in pre-market trading on Monday.

At its peak in December 2013, Twitter had a market capitalisation of $53bn, which has now been reduced to $12.23bn.

The board of the company is said to be undecided about proceeding with a sale, with some of its top executives favouring it, and others against the idea.

Twitter has been badly hit by a major slowdown in user growth in the face of tough competition from the likes of Facebook, Instagram and Snapchat.