Elon Musk's acquisition of Twitter has resulted in the platform losing 72% of its value, dropping from $44 billion to about $12.3 billion.
Following Musk's controversial decisions and the exodus of major advertisers, Twitter's stock saw both immediate gains and subsequent declines, highlighting investor uncertainty.
Over 50 of the top 100 advertisers, including major brands like Coca-Cola and Nestle, have reportedly stopped advertising on Twitter, contributing to its value plunge.
User engagement is plummeting, with data showing a 23% decline in daily active users in the US from November 2022 to February 2024.
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