Twitter Drops the Most Since April on Sales Outlook
- Shares drop the most since April, extend rout to a sixth day
- Slump reflects concerns about Apple policy changes, Baird says
This article is for subscribers only.
Twitter Inc. tumbled 11% on Wednesday, the biggest drop in six months, after the social-media company’s third-quarter revenue and fourth-quarter sales outlook trailed Wall Street projections.
The stock fell for a sixth day, marking its longest streak of declines since August. The shares have come under pressure in recent sessions following results from social-media peers Snap Inc. and Facebook Inc., both of which highlighted headwinds from Apple Inc.’s new limits on consumer data collection.