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Twitter shares fall after report says account suspensions to cause user decline

Reuters 

(Reuters) - Shares of Twitter Inc fell 9 percent on Monday after a report said the social media company had suspended more than 70 million fake accounts in May and June, which could lead to a decline of monthly active users in the second quarter.The slump wiped about $3 billion from the microblogging site's market valuation, which had stood at about $35 billion on Friday. Twitter shares were last down 8.6 percent at $42.62."Such reaction is due likely to the assumption that the lower user count would attract less ad dollars," Morningstar analyst Ali Mogharabi said.Mogharabi, however, pointed ...

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First Published: Mon, July 09 2018. 21:21 IST
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