$3Bn is still vastly overpriced. What's their P/E again? You can trade at a loss while you're flush with cash, but not forever, you have to grow your way out somehow...
You must think whatsapp acquisition is insane and fb ran by amateurs. The fact is Twitter is of great value to the likes of Google and fb, beyond simplistic pe ratios. In fact, pe is a very poor valuation tool for tech companies.