Twitter’s stock price doesn’t seem to have a floor.
Just three weeks ago, we wrote that Twitter stock closed at an all-time low of $23.31 per share, evidence of what had been a rough, roller-coaster year for the company. Since then, the stock has plummeted another 14 percent, closing Friday at $19.98. It was the first day in company history the stock has ever traded below $20 per share.
The stock market was garbage all week, of course, and Twitter wasn’t the only company to struggle. The S&P 500 fell nearly 6 percent, and the Dow Jones Industrial average fell more than 6 percent as Chinese markets dramatically influenced prices in the United States. Still, Twitter’s plunge was much worse than its techy counterparts. Facebook dropped 4.5 percent, Google roughly 4 percent and Apple just over 5 percent.
At Twitter, when it rains it pours.
This article originally appeared on Recode.net.