But what will sales look like after the 5s and 5c officially launch?
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After a wild run last week that saw them soar to an all-time high of $74.73, shares of Twitter are crashing brutally back to earth. The company’s stock tumbled more than six percent in early trading Monday, falling to $59.43. The reason? That’s not entirely clear, though perhaps investors are realizing that there’s no fundamental business change with which to rationalize last week’s run.
News Bytescrapping the nascent video-streaming platform with which it had hoped to take on Netflix and Hulu. “Despite our efforts, we were not able to deliver the differentiated customer experience we had hoped for, and so Vdio is now closed,” the company said in a message to users of the service. Evidently, Rdio’s bottom line has taken precedence over its dreams of becoming a global entertainment streaming platform.
News Byteabandoned his, let’s face it, largely fantastical bid for the company, and reduced his combined stake with co-founder Doug Fregin to below five percent from eight percent.