Hundreds of millions of shares of Twitter stock "unlocked" Tuesday, which allowed insiders and other longtime shareholders in social media company can sell. The result has been a bloodbath with Twitter down more than 11% hitting as low as $34.00 $31.72 earlier Tuesday. By contrast, the day thaty 800 million Facebook shares unlocked, it's stoke jumped more than 10%.
Twitter now has 255 million monthly active users, 198 million of which are also active mobile users. The company generated $250 million in revenues, the vast majority of that coming from mobile ads.