After a lackluster performance at a congressional hearing Wednesday, Jack Dorsey’s Twitter closed down 21%, its worst day since 2014.
This is despite the company reporting 187 million daily users at the end of the quarter, an increase of 29% from last year.
Additionally, the social media company reported user growth that fell short of expectations amid heightened scrutiny and the challenge of handling posts around the U.S. election. Twitter ad revenue grew 15% year over year to $808 million, but the company warned that the U.S. presidential election makes advertiser behavior “hard to predict.”
Its possible the market is preparing for a Trump loss, and without him, Twitter loses most of its shine.
Works Cited:
https://ca.finance.yahoo.com/news/twitter-tumbles-paltry-gains-users-125524793.html