Twitter’s shares have taken a hit following a weekend report that various possible bidders for the social media firm, namely Salesforce, Google and Disney, have decided not to make a move after all.
On Saturday, Bloomberg reported that, “according to people familiar with the matter”, Salesforce.com, Alphabet’s Google and The Walt Disney Company are now unlikely to make a bid for Twitter. This is despite all of those possible suitors having consulted with banks on whether they should move for the company.
In Monday’s early trading, Twitter stock fell by over 13% to $17.21. That was the stock’s lowest value in over two months, and left Twitter with a market value of $12.18 billion – well below its peak of $53 billion in December 2013, observes Reuters.
With many investors and analysts convinced that Twitter lacks a clear Plan B should an acquisition not go ahead, it looks like the company could continue to wade in choppy waters for a while yet.
