REUTERS/Lucas Jackson
Twitter CEO Dick Costolo (L) and Twitter co-founder Jack Dorsey walk the floor of the New York Stock Exchange during Twitter's IPO in New York, November 7, 2013.
The stock was halted for about 15 minutes, and as soon as trading resumed around 3:47 PM ET, the stock plunged by as much as 20%. It's down about 17% now.
Seems like the main reason for the plunge was a miss on revenue and lowered revenue guidance for the rest of the year. Twitter also said its new direct response ads are not living up to expectations.
Follow the earnings update right here.