Twitter Down 4%, Trading Below Its IPO Price

Shares of Twitter Inc. fell 4% Friday, causing the stock to trade at $25.62 in mid-day trading, below its initial public offering price of $26. Twitter reached an intra-day low of $25.40 Thursday, also below its IPO price. The shares fell below the IPO price for the first time on August 20 and reached a record intra-day low of $21.01 on August 24. The falling shares come as Twitter has yet to name a permanent chief executive, after Dick Costolo stepped down July 1. Shares of Twitter have fallen 27% in the past three months, compared to the S&P 500's loss of 7%