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The flock flees: Twitter hits all-time low

Twitter
Dado Ruvic | Reuters

Twitter hit a new all-time low Tuesday, continuing its downward slide after reporting first-quarter results last week.

Shares of the social media platform dipped as low as $13.90 Tuesday, the lowest level since the company went public in November 2013. The company's stock is down more than 80 percent since its all-time high of $74.73 a share in December 2013.

Shares closed down 2.7 percent at $14.01.

Twitter's stock is down nearly 39.5 percent this year, as concerns about user demand and sales growth linger. Still, active monthly users were up 3 percent from the prior-year period.

Source: FactSet

The company reported mixed first-quarter earnings April 26, missing analysts' expectations on revenue and disappointing Wall Street with weak forward guidance. The company did beat consensus on earnings.

Twitter announced a deal with the NFL last week, with exclusive rights to stream Thursday night games during the 2016 season. Twitter will broadcast 10 games for free, including in-game highlights and broadcasts from Twitter's live-streaming service, Periscope.