Today Twitter closed the day trading below $20 a share — an all-time low for the company and a threshold that makes Twitter’s financial situation feel all the more dire.
Three days ago, CEO Jack Dorsey offered soft confirmation that the company is considering expanding its famous 140-character limit — the one set in place due to the historical limitations of carrier text messaging. That limit could soon reach as high as 10,000 characters, according to Re/code.
News of the potential change arrived during CES, Vegas’ massive annual technology conference, where Twitter maintained a quiet presence inside this secret conference area that looks like a theme park.
Investors don’t appear thrilled by the 10,000-character idea, nor has Twitter managed to offer a solution for their primary concern: user growth. We’ll find out if Dorsey’s managed to swing growth momentum in the right direction in February, when the company is scheduled to report its fourth quarter 2015 earnings.