Twitter shares hit a new all-time low on Monday morning, plunging below $15 for the first time ever.
The stock dipped as low as $14.91 shortly after the markets opened, surpassing the previous all-time low of $16.08 on February 2nd. The stock's decline came amid a broader market sell off on Monday, in which the Dow Jones Industrial Average plunged more than 340 points in mid-day trading.
Twitter's stock has been under pressure for months, as the company struggles to boost user growth. Its plummeting value has sparked constant speculation that Twitter could become an acquisition target.
On Friday, a BuzzFeed report claimed that Twitter may soon switch to an "algorithmic" method of displaying tweets by relevance, instead of the current way of showing them in reverse-chronological order, like a backward timeline. This caused an uproar on Twitter, with the hashtag #RIPTwitter becoming popular as some users, concerned that Twitter would become like Facebook, complained about the possibility of Twitter shifting its focus away from a "real-time" news feed.
Twitter CEO Jack Dorsey appeared to debunk the report in a tweetstorm on Saturday, stating that the company "never planned to reorder timelines next week" and that "Twitter is live."
