Shares of Twitter fell more than 1 percent in the premarket Wednesday after the company announced the sale of $1 billion worth of convertible notes.
The notes, which will be offered to "qualified institutional buyers," mature in 2024 and will be convertible into cash, stock, or a combination of the two at Twitter's discretion, the company said.
The stock's decline put it on track to snap a nine-day winning streak and would knock it off a three-year high reached on Tuesday. During its winning streak, Twitter shares have gained more than 21 percent.
Twitter's recent jump came amid a slew of good news for the company.
Last week, MKM Partners said Twitter would get a big sales boost from the upcoming FIFA World Cup soccer tournament, noting the service is "service is much improved than four years ago." The tournament, which takes place every four years, will be held in Russia from June 14 to July 15.
Also, S&P Dow Jones Indices announced on Monday the social media company would replace Monsanto in the S&P 500 index starting Thursday.