Twitter’s dark days of the fail whale returned in a flashback style fashion with most if not all regions experiencing outages on Tuesday.
The market responded as expected with stocks closing down nearly 7% at $16.69. The stock was at one stage trading at $16.43 which was a new low for the stock.
Twitter was famous for down time a couple of years ago and brought in an engineering team overhaul to fix the issues.
On June 10, 2015, Twitter’s CEO announced that he was resigning as CEO of Twitter effective July 1, 2015. Dorsey would assume the post of Interim CEO upon Costolo’s departure. He was named permanent CEO of Twitter on October 5, 2015
Square, which is another company led by Twitter’s CEO Jack Dorsey, also closed down nearly 8% at $9.47.