Twitter Stocks See Over 17% Drop After Closure Of Trading Session In United States

Twitter Stocks See Over 17% Drop After Closure of Trading Session in United States

MOSCOW (UrduPoint News / Sputnik - 30th October, 2020) Twitter shares experience an over 17-percent price drop after the closure of the main trading session in the United States, while shares of US tech giants Amazon, Apple and Facebook also depreciated, trading data showed on Friday.

In particular, after the Nasdaq Composite Index, which lists US tech stock giants, closed, the shares of Twitter fell by 17.53 percent, while those of Amazon, Apple and Facebook dropped by 1.87, 4.22 and 2.65 percent, respectively. Meanwhile, Alphabet shares increased by 6.

5 percent.

Such a sharp decrease in Twitter shares' prices was due to the social network's poor financial reporting. In particular, the number of active users of the network in the third quarter increased by only one million or 0.5 percent compared to the previous quarter to 187 million people per month, although analysts expected the number to reach 195 million.

Meanwhile, the shares of Amazon, Apple and Facebook depreciated despite the fact that they reported revenue growth that exceeded analysts' forecasts.