Twitter Actually Caused Twitter Shares to Plunge

Twitter Bird

Its earnings season on Wallstreet and many Tech Companies including APPLE Inc., Ebay, Amazon and Facebook are among tech giants that have reported. Yesterday was Twitter’s day It was to report at 4 pm Eastern Time after the market closes. However, shortly after 3 pm Eastern Time, Financial services firm Selerity caused havoc when it tweeted the company’s first quarter earnings an hour before schedule.  Twitter issued a press release about 25 minutes later confirming Selerity’s figures.

According to Selerity, Twitter shares plunged six seconds later after its Tweet. The New York Stock Exchange briefly halted Twitter trading as the company sorted out the mess. By the time of close of market at 4pm, Twitter shares had plunged by nearly 20%.   Selerity has denied any suggestions it was involved in hacking Twitter’s website to get the data and says the information came from Twitter’s investor relations site.

That was one expensive Tweet and the company used to its account to ask for investigations into the leak.


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