Twitter (TWTR) shares were mysteriously battered as trading started Thursday. The stock fell as much as 8% during the morning trade, even as investors and market observers were sent scrambling as to why the market was responding negatively.
By 11 AM ET, the stock had reached its lowest level since October 24, though it gradually gained since then. By 1:20 PM ET, the stock was down only 4.6%.
A few stock followers have suggested that a report by POLITICO on Fox News’ boycott of the platform since earlier this month is likely to be the reason for the sell-off. According to the report, the boycott is a silent protest against the micro-blogging site, after some users publically shared the home address of its host Tucker Carlson on Twitter.
The media giant, which has 18.3 million followers on Twitter, hasn’t tweeted since November 8.
Meanwhile, market observers are unsure whether this could be the reason for the sell-off as the reason is not “strong enough.”
It may be noted that most tech peers had a joyride in the stock market yesterday, but Twitter did not participate in the rally. Head trader at US Global Investors Michael Matousek told Bloomberg, “The bullish bias of investors has been broken, and even a small news story can be used as an opportunity to sell.”
Twitter shares have gained 30% so far this year.
Get access to timely and accurate verbatim transcripts that are published within hours of the event
Most Popular
Intensity Therapeutics is establishing a new field of localized cancer reduction: CEO
Intensity Therapeutics, Inc. (NASDAQ: INTS) is a clinical biotechnology company engaged in the discovery development, and commercialization of first-in-class cancer drugs that attenuate tumors with minimal side effects while training
INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues
Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came
Riding the AI wave, Nvidia looks set to stay on the high-growth path
After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on