Twitter Falls Below $20 A Share; Markets Lose Early Gains
SAN FRANCISCO (CBS-SF)-- Shares of San Francisco-based Twitter fell below $20 a share in early trading Friday as the market appeared to be in for another anxious day.
Twitter's tumble have taken the stock of the social media giant to a 52-week low and well off its high of $53.49 a share.
Other tech giants were experiencing mixed results early in the day.
Apple shares, which have been hammered this week, were up 0.85 percent in early trading to $97.27. Google was down 0.91 percent while Yahoo was slightly up at 0.02 percent and Facebook was also slightly up at 0.15 percent.
The gains early Friday came a day after the market had its worst drop in three months. But the markets couldn't hold on to those gains with the Dow down 0.025 percent, NASDAQ down 0.23 percent and S&P 500 had fallen 0.26 percent at 8:30 a.m. PST.
Retailers and technology companies had the biggest gains. Energy stocks rose along with the price of oil.
China's market also rose. The benchmark index in Shanghai gained 2 percent.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 percent.