Twitter loses users, share prices plunge

Micro-blogging site Twitter’s stock prices fell by 13% earlier this week, which is an all time low for the company. The stock prices of the portal plunged as the number of monthly users has gone down drastically over the last three months.

“Twitter lost users in the last three months and the news sent the share prices into a nosedive,” officials from the company said on Wednesday.

It is reported that the growth in Twitter’s monthly active users slowed down, then stagnated, and now seems to have stopped completely.

Meanwhile, in a letter to the stake holders, Twitter emphasized its belief that the plunge in the stocks was just a temporary affair.

However, the latest figures were a disappointment. And the number of users who follow Twitter using text messaging declined slightly from 307 million in the previous quarter to 305 in this quarter. According to the earnings report of the company, the revenue for the whole year was up by 58%.

In an attempt to improve its user base, Twitter on Wednesday announced that the site will be revamped, allowing the ‘best’ and the ‘most popular’ Tweets to surface on top.