Twitter’s value is a fraction of Facebook’s, but the social media platform more than matched its larger rival’s tumble in U.S. financial markets this week as Chief Executive Officer Jack Dorsey prioritized ensuring “healthy” conversations via tweet over immediate growth.
The San Francisco-based company’s shares fell 21 percent to $24.12 in New York trading on Friday, after Dorsey detailed Twitter’s priorities following slower worldwide gains among active users in the second quarter as well as a small decline in the U.S. The day before, Facebook tumbled 19 percent as executives predicted tighter profit margins and, as at Twitter, emphasized efforts to prevent misuse of the platform in the run-up to midterm congressional elections in November.
