Categories Analysis, Technology

Mysteriously, Twitter stock is tumbling today

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.”

Twitter soars after Q3 revenue and profits top estimates

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

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Add Comment
Viewing Highlight