What happens to Twitter? The company's shares plummet by 17% before the opening of the trading session

What happened to Twitter? Shares of the company fell by 17% …

Twitter reported that the number of monthly users decreased by 1 million in the second quarter, and believes that this decline will continue in the context of the fight against false accounts and negative rhetoric within the platform. After the announcement, the company's stock fell 17% before the opening of the trading session, according to Bloomberg.

The number of monthly active users reached 335 million people – a decrease of 336 million in the first quarter

Although this indicator has increased by 2.8% over the same period the previous year. last year, the company said that it expects that this decline will continue in the next period

Twitter argues that this decline comes from efforts to clean the platform, rules and regulations. Use more stringent at European level and changes in the way Twitter is used.

"We are convinced that there is a long-term interest in platform and that we will succeed in the long term to improve the health of public conversations on Twitter," he told Twitter

So Friday at 3:00 pm, an hour and a half before the opening of the US stock market, Twitter shares were pre-market at $ 36.8 per share, a decrease of 14%

Thursday, shares of Twitter closed at $ 42.9 billion and at a market capitalization of $ 30.8 billion.

Therefore, if the trend continues until the market opens, Twitter will lose about $ 4 billion dollars from market capitalization