Twitter shares fall as it warns of fizzling user growth, rising costs
The Hindu
The San Francisco-based company reported 199 million daily active users, up 20% year-over-year, compared to analysts' estimates of 200 million, according to FactSet data.
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Twitter Inc shares sank on Thursday as it reported a surge in ad sales but warned of rising costs and expenses and said user growth could slow in the coming quarters as the flow seen during the coronavirus pandemic fizzles. The social media company also said stock based compensation for new hires would be more than expected this year.
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Five top firms lose ₹1 lakh crore in market value, with HDFC Bank experiencing the largest decline of ₹56,124.48 crore.
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Options are widely used by retail traders to speculate on the value of the stock for immediate gains and such behaviour in large scale can distort the market