Updated with comments from Jim Cramer and Jack Mohr, and an additional analyst.

Will Twitter (TWTR - Get Report) ever be able to catch a break? 

The struggling social media network came under fire yet again on Thursday via a Buzzfeed article that looked at the San Francisco-based company's longstanding problems dealing with abuse and hate speech and criticized the social media giant's inability to solve it. 

In response, Twitter wrote in a blog Thursday that the article contains inaccuracies and unfair portrayals, and that it had been contacted just the day prior for comment. 

"We are going to continue our work on making Twitter a safer place. There is a lot of work to do but please know we are committed, focused and will have updates to share soon," the company said. 

On top of the Buzzfeed article, Twitter has also had to deal with Internet rumors that the site was shutting down next year, which the company has said "there is absolutely no truth to." 

"Twitter is void of fundamentals and anyone who has listened to the hundreds of takeover speculation alerts has been sorely disappointed (and lost fistfuls of money in the process)," wrote Jim Cramer and Jack Mohr of the Action Alerts PLUS portfolio, which exited its remaining position in Twitter on Friday. "Whenever we are asked about owning a stock for the takeover value, our response remains the same: own it for the fundamentals, not the speculation."

The co-portfolio managers sold out of a majority of the position last February and June, at $46/share and $36/share, respectively, given worries that "the company may prove to be extremely overvalued because of mismanagement and lost opportunity" fearing "it will slowly fade into irrelevance".

Twitter has steadily turned from a Silicon Valley darling to a social media giant that never has been able to find its footing with respect to monetization or new user growth. Revenue growth has continued to decelerate, especially as the company continues to face uncertainty with international expansion, and the market has also been eyeing whether Twitter's brand was starting to erode due to growing competition from Facebook  (FB - Get Report) and Alphabet's (GOOGL - Get Report) Google+. 

Facebook and Alphabet are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells FB and GOOGL? Learn more now.

The biggest problem for Twitter hinges on the fact that there are two groups of Twitter users: those who tweet for fun and those who tweet for profit, said Tigress Financial Partners analyst Ivan Feinseth.

While the second group is on various social media channels -- including Google+ and Facebook -- it is increasingly finding that it can devote more of its time on a single network, he explained, adding that Facebook in particular has been winning the market share by offering a better audience targeting capability.

"Twitter will have to do some type of a dramatic action before they lose all of their customers to Facebook," he said.

There has always been a chance that Twitter would get acquired by a larger peer, but such a scenario has a pretty low probability, Feinseth added. Twitter's brand equity and user base are attractive, and the buyout would be small potatoes for tech behemoths such as Alphabet, Facebook or Microsoft (MSFT - Get Report) . At the same time, it has continued to lose both customers and money as it frustrates investors with its slow growth, he added.

On top of that, Twitter has been dealing with an exodus of executives even after its co-founder Jack Dorsey returned as CEO last year. So far this year, it has lost head of consumer product Jeff Seibert, head of biz development Jana Messerschmidt and head of product Kevin Weil, among others. 

Its latest quarterly earnings proved to be yet another disappointment as advertising growth continued to weigh on the company. Last month, Twitter posted revenue of $602 million and earnings per share of 13 cents vs. Wall Street's estimates of $607.6 million in revenue and 9 cents in EPS.

Still, Twitter's stock has risen about 36% in the last three months, due to constant buyout rumors, in particular fueled by Microsoft's recent $26.2 billion acquisition of LinkedIn (LNKD) . But shares are still down more than 50% from their all-time high. On Friday morning, Twitter was trading down 3% at $19.19.