NEW YORK (TheStreet) -- Twitter (TWTR) shares are down 1.6% to $38.95 on Tuesday following a report that the company's number of former users is nearly equal to the number of its active users, according to Cowen and Co.
The firm conducted a survey of 2,000 U.S. adult Internet users and found that 21.8% of those surveyed were active users of the social media website, while 19.3% were former users and the remaining 59% of people surveyed had never used the website.
Based on the survey results analysts at the firm now believe that Twitter will add 2 million adult users over the next 12 months, half of the 4 million users it had previously forecast.
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