Twitter share price drops to all-time low

 
Chris Papadopoullos
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Investors don't appear to think much of Twitter's new chief executive (Source: Getty)

Twitter's share price has fallen to a new all-time low today.

The stock is currently worth $19.47, down 2.55 per cent on Friday's closing price. It has lost 14 per cent of its value since the start of the year and is down nearly 50 per cent over the past 12 months.

Shares in the social media giant began dropping last week when it was reported that the firm was considering increasing the maximum number of characters that can be used in a tweet to 10,000 from 140.

In October, Twitter shares fell 10 per cent after the firm revealed it had failed to add significantly to its 300m-strong user base in the months leading up to results.

Shares in rival social media firm Facebook remain fairly robost and gained 25 per cent over the last 12 months.

The fall in the share price is also bad news for new chief executive Jack Dorsey. After taking over three months ago, Dorsey has slashed the firm's workforce by eight per cent and launched moments.

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