A year since Dick Costolo's exit, Twitter stock continues to fall: Report

Last year, on 11 June, Twitter CEO Dick Costolo , had stepped down as Twitter CEO amid criticism over the company’s disappointing revenue generation and stocks sliding down the slippery slope. Co-founder Jack Dorsey, who had served as the CEO during Twitter’s early years, was temporarily designated CEO, with the interim tag being pulled out later.

Dorsey did bring some refreshing changes to Twitter, but not much has changed when it comes to the stock. “Since Costolo announced he was stepping down, Twitter’s stock has fallen more than 60 percent, closing Friday near an all-time low at $14.02. Its market capitalization, which was roughly $23.5 billion the day Costolo announced his departure, is now below $10 billion,” points out Re/code .

The report further points out that things don’t look promising as Twitter is without a head for consumer product, one of the most important positions for a company. It is known that Twitter has been struggling to get more users under the wings, and still hasn’t made any concrete strides at monetising the product. This has been worrisome for investors for some time. This was the reason for the complete restructuring that took place last year. However, the company is yet to bounce back as it hoped wonders from Dorsey.

Meanwhile there have been some disappointing reports (for Twitter) doing the rounds such as  Snapchat surpassing Twitter in daily usage and, Instagram attracting more advertising than Twitter .