Twitter shares head south 7%

SAN FRANCISCO -- Twitter stock hit a 7% downdraft in trading on Monday amid broad declines in social stocks.

Shares of the micro-blogging company plummeted $3.04, or 6.9%, to close at $40.94.

The plunge in Twitter came amid a sell-off in social stocks. Shares of Facebook ended the day down $3.18, or 6.5%, at $45.83. LinkedIn shares slid $8.99, or 3.9%, at $222.07 by close of markets. Reviews site Yelp fell $6.34, or 9%, at $64.43.

Questions persist over the valuation of Twitter, whose market capitalization is above $24 billion. The company has yet to turn a profit.

Twitter went public on November 7 after pricing at $26 per share.

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