The real question is why would shareholders that care about profits own Twitter stock? In its entire history there have been 2 years it didn’t lose money and actually recorded a profit.
It's all about potential future profits. Not everyone agrees on what those profits could be, and hence why there is a market for shares, and is the reason why share prices are not stable.
Essentially, the holders believe that past performance is not reflective of possible future performance. The shorts and sellers and non buyers believe that us the case or that there are more efficient allocations of their money.
