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The up-and-down ride for Twitter stock is continuing into the New Year.
Shares of the social network are down more than 6% after Morgan Stanley cut the company's rating to 'underweight.' CNBC reports growing competition for ad revenue was cited as the reason for the downgrade.
The plunge follows a surge last week after Evercore Partners analyst Ken Sena said the company was in a good position to capture money from video advertising.
Twitter's latest drop is part of a larger roller-coaster ride that started in December, when the company's stock closed at a high of $73.31. After Christmas, Twitter shares slid to $60 before closing last Friday's markets at $68.92.
Meanwhile, the International Consumer Electronics Show kicks off this week with a bevy of press conferences on Monday. Among the public companies expected to make announcements today: Sony, Qualcomm, Samsung and Intel.
Follow Brett Molina on Twitter: @bam923. USA NOW
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