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Twitter shares fell after Facebook

27.07.2018
Business, Facebook, Twitter

Shares of the social network Twitter traded on the New York Stock Exchange at around $ 35.54 as of 17:20 Moscow time, a drop of 17.23%. The closing price on Thursday was $ 42.94, on Friday the trades opened at $ 37.25.
Shares are getting cheaper on the back of the company's quarterly report. Twitter reported that the monthly number of users decreased by 1 million people, the company also expects a further decline in this indicator. For the second quarter, the social network reported about 335 million active users per month.

The decline in the number of users in Twitter was explained by measures to combat spam and fake accounts, as well as changes in EU legislation related to personal data of users.

The day before, its quarterly report was presented by Facebook, the social network recorded a slowdown in revenue growth. After that, the company's shares fell by 19%, and capitalization declined by $ 119 billion. As of 17:20 Moscow time on July 27, securities rose marginally by 0.89% to $ 177.82.