Whilst the main market started the week on a broadly positive note, there was outright carnage in Twitter (TWTR), which imploded at the open, and settling -11.1% @ $17.68. As any realistic hope of a near term bid has evapourated, so have most of the gains built since mid June.
TWTR, weekly, 3.5yr
Thursday saw the initial shock as it became clear neither Disney, Salesforce, or Google, had any near term intention to issue a takeover bid.
Friday was a classic churn day, as some 'bargain buyers' appeared.
The week has begun with an increased mainstream realistion that Twitter is likely to remain public for at least some months.
The company is clearly struggling, unable to grow, with management that seem entirely devoid of ideas.
Keep in mind the IPO price was $26, and it seems absolutely no one in corporate land is willing to pay that much.
If TWTR does break new historic lows, a bidder or two will probably appear. Yet.. if TWTR if trading at around $10.. such a bid won't likely be >$20.
Here is a thought....
Its 2016.. and we have a twitter website, where most uses want such simple things as an edit button. Yet management are either not listening... or just don't care.