Twitter Inc has not been able to endear itself to analysts, investors or users as it continues to struggle under the strain of many burdens. Analysts can’t seem to find a good enough reason to be hopeful about the prospects of Twitter because its product is becoming a mature product in a niche market. Investors are worried about the firm’s lack of ability to grow its user base and monetize the current user base. Users are worried about the firm’s lack of an innovative edge. The latest problem plaguing Twitter right now is a global outage as the site goes down.
Twitter is down for real
The shares of Twitter were down by a massive 5.58% on Monday as the stock closed at a $17.94 trading price. The stock took the biggest hit last week when it made an all-time low of $17.27. However, it is not Twitter’s stock alone that has gone down as the platform itself seems to have gone under the water. Breaking news shows that Twitter is currently down as the service seems to be offline on both mobile and desktop.
The firm has confirmed the outage (I’m not the only one experiencing this) via a status blog saying “some users are currently experiencing problems accessing Twitter,” but the firm noted that it is “working towards a resolution”. If you try to access the platform via the web, you’ll get a canned “something is technically wrong” error screen. Some Twitter lovers have also noted that they can’t seem to access the platform via apps such as TweetDeck.
Twitter’s USP is hinged on the fact that it provides a real-time stream of information; hence, outages such as the current one often strike the firm at the core of its business. Twitter has been trying hard to revamp itself as the primary source for brands to interact with their audiences and outages of this nature makes it harder for Twitter to build a name as a tool for real-time communications.
The crash in Twitter’s platform echoes the crash that the stock is experiencing in its share price. The share price of Twitter’s stock is down more than 45% since Dorsey took over as CEO. Today’s outage might worsen Twitter’s prospects in the stock market and there’s no doubt that the stock will be heading into the earnings season from a position of weakness.
There’s still some vacuums at Twitter
The problems plaguing Twitter is multi-faceted and it doesn’t even appear as if CEO Jack Dorsey can work the miracle of a turnaround. More so, Twitter has toyed with the idea of many different kind of changes (such as increasing the character count) but such changes project an image of a firm that is not sure of what its product is supposed to be. More so, Dorsey is the CEO of two publicly traded firms, neither of which seems to be having a particularly pleasant time in the market.
The worst part apart from the dropping share price is the brain drain at the firm. Business Insider reports that Dorsey is doing a great job at talking people out of leaving the firm. The report says, “When people are pissed off and want to leave, he will sit down with them”. However, “the word on the street is that everybody is vulnerable” to leaving and top product development jobs are still vacant.