The social media company’s stock plummeted in after-hours trading Thursday after Mark Mahaney, an analyst for RBC Capital Markets, downgraded it to “underperform.” As Bloomberg reports, the downgrade was based on an RBC survey that revealed fewer marketing departments plan to buy advertising on Twitter next year. That troubling news is the last thing Twitter needs. The company is already facing a lawsuit from one shareholder who says Twitter execs made false and misleading statements about the social network’s growth potential, thereby causing the stock to trade at artificially inflated levels.
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