Twitter stock opened down about 7.5% today. As trading continues, the stock is down more than 11%.
The stock also hit its all-time low, dipping below $35 per share. The company's lockup expires today, so many employees are probably selling. However, it's worth noting Twitter's biggest investors and stakeholders likely aren't selling.
Twitter's stock has been falling a lot since the company reported earnings last week. Investors appear to be worried that the company's user base isn't going very quickly even though its financials are pretty good.
Twitter has 255 million monthly active users, which is smaller than other social networks like WhatsApp (500 million), LinkedIn (300 million), and Facebook (1.28 billion).
However, even though Twitter isn't growing its users very quickly, CEO Dick Costolo said last week that its mobile ad network reaches up to 1 billion people. Twitter bought mobile ad network MoPub last year. Some think that even though Twitter may never become a massive social network on the scale of Facebook, it has a nice lifeline thanks to the MoPub acquisition.
SEE ALSO: Apple stock passed $600 for the first time since 2012