Twitter’s (TWTR) biggest post-IPO lockup ended, triggering a massive wave of selling in the microblogger’s stock Tuesday. While the number of company insiders selling shares was the low, Twitter fell 18% to 31.85, 57% off its Dec. 26 peak of 74.73 and hitting a post-IPO low. The stock’s new issue priced at 26. Other social networks suffered big losses. LinkedIn (LNKD), a networking site for professionals, crashed nearly 6% to a 52-week low.
Professional-networking giant LinkedIn (LNKD) got several price-target cuts Friday after its Q1 report late Thursday, but most analysts still liked its longer-term outlook. Shares fell 5% on the stock market today. LinkedIn’s Q1 earnings beat estimates but its guidance missed as its earnings growth came to a halt. “While fundamentals remain strong, LNKD is appropriately investing for the long term; hence we boosted 2015-19 cost assumptions,
Facing questions about slowing growth, LinkedIn late Thursday reported decelerating first-quarter profit and sales gains and gave full-year 2014 revenue guidance below Wall Street estimates. LinkedIn (LNKD) reported Q1 revenue of $473 million, above estimates of $466.6 million and up 46% from the year-earlier period. But that marks the slowest sales growth in more than four years. The social networking site for professionals reported earnings per