Twitter, Hexo Plunge as Stock Markets Reel Once Again
Wall Street appears determined to deliver an October fitting for the year that 2020 has been. Earnings reports were a significant drag on the broader market, with some of the biggest companies in the market reporting results that on the whole didn't live up to high expectations. Market participants also seemed to perceive a rising risk of major difficulties in the near future, with the presidential election next Tuesday and nervousness about the potential need for extreme measures to combat the COVID-19 pandemic. As of 12:15 p.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 225 points to 26,434. The S&P 500 (SNPINDEX: ^GSPC) lost 39 points to 3,271, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) moved lower by 240 points to 10,945.
Shareholders in Twitter (NYSE: TWTR) and HEXO (NYSE: HEXO) reacted poorly to the companies' latest results. For one of those stocks, the news also came with a twist that created further uncertainty about the company's future.
Twitter's stock plunged more than 20% at midday on Friday. The social media company's third-quarter financial report included a solid performance, but investors nevertheless wanted Twitter to take better advantage of the massive opportunities it has had lately.
Source Fool.com
