Twitter’s battered shares dipped below their IPO price on Thursday amid ongoing investor concerns about the company’s ability to grow its user base.
Shares of the San Francisco-based short messaging service fell 5.8 percent to close at $26, after trading as low as $25.92 during the day. Twitter went public in November 2013 at an initial public offering price of $26 per share.
The stock is down more than 30 percent since Twitter’s July 28 earnings report, when it warned that boosting its user growth rate will take a long time.
The challenge for Twitter is broadening the appeal of its service to the mass market amid fierce competition from other social-media companies and apps.