Twitter shares went into a tailspin Thursday as hopes faded for a buyout for the struggling social network.
Shares in Twitter sank 20 percent to close at $19.87, giving back most of the gains from speculation in recent weeks of a buyout by a major tech or media group.
On Wednesday, technology news site Recode said Google parent Alphabet would not pursue a Twitter acquisition. Google had been seen by some observers as one of the more likely purchasers.
Neither Twitter nor Google responded to a request for comment.
Recode also reported that other potential suitors were also cooling -- that Apple was unlikely to pursue a bid and that Disney had no plans to make an offer.
Talks remain active between cloud computing group Salesforce.com and Twitter, according to some reports.
After falling to its lowest point ever earlier this year, Twitter shares were boosted recently on hopes the company will gain traction or a make a promising match with a suitor.
Twitter, which celebrated its 10th anniversary this year, has yet to make a profit. Co-founder Jack Dorsey returned as chief executive last year but has yet to ignite growth, with the number of users stagnating at slightly more than 300 million for several quarters.
Twitter was expected to begin accepting bids this week, reports said.
The social messaging platform would be a big-ticket item, with its value based on the share price topping $17 billion on Wednesday, and the company likely to want a premium to be paid.
GMT 19:38 2018 Saturday ,13 January
Facebook joins Europol talks to fight Islamist propagandaGMT 10:23 2018 Wednesday ,03 January
Launch of bird collision avoidance system will save lives, moneyGMT 18:36 2018 Monday ,01 January
WhatsApp messaging service returns after global outageGMT 16:56 2017 Wednesday ,27 December
Hamilton apologises for criticising dress-wearing nephewGMT 19:06 2017 Tuesday ,26 December
Six Arab Instagram stars get their very own three-part reality showGMT 17:46 2017 Monday ,25 December
China shuts down more than 13,000 websites in past three yearsGMT 09:50 2017 Monday ,25 December
Artist 'released' in China after Liu Xiaobo tributeGMT 08:56 2017 Monday ,25 December
Where's Santa? US-Canadian military command tracking St NickMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor