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May 16, 2022, 8:32 a.m. EDT

Twitter's stock falls toward a 7th-straight loss

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By Tomi Kilgore

Shares of Twitter Inc. /zigman2/quotes/203180645/composite TWTR +1.89% fell 2.0% in premarket trading, putting them on track for a seventh-straight loss, as uncertainty over the buyout buy Tesla Inc. /zigman2/quotes/203558040/composite TSLA +4.52% Chief Executive Elon Musk continues to grow. That would be the social media company's longest losing streak since the seven-day stretch that ended Dec. 20, 2021. The stock had tumbled 19.1% amid a six-day losing streak through Friday, highlighted by the 9.7% drop in Friday after Musk tweeted that the deal was "temporarily on hold" while he looked into spam/fake accounts. That marked the biggest six-day loss since the stock plunged 21.8% over the six days ended Nov. 2, 2020. There was more uncertainty created over the weekend, when Musk tweeted there was some chance that the fake/spam/duplicate tweets might be over 90% of daily active users. Meanwhile, Tesla's stock was little changed ahead of the open. Year to date, Twitter shares have slipped 5.8% and Tesla's stock has tumbled 27.2%, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +3.06% has declined 15.6%.

/zigman2/quotes/203180645/composite
US : U.S.: NYSE
$ 39.41
+0.73 +1.89%
Volume: 18.09M
June 24, 2022 4:05p
P/E Ratio
172.70
Dividend Yield
N/A
Market Cap
$30.12 billion
Rev. per Employee
$698,993
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/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 737.12
+31.91 +4.52%
Volume: 31.92M
June 24, 2022 4:00p
P/E Ratio
100.02
Dividend Yield
N/A
Market Cap
$763.66 billion
Rev. per Employee
$626,347
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/zigman2/quotes/210599714/realtime
US : S&P US
3,911.74
+116.01 +3.06%
Volume: 3.46B
June 24, 2022 5:05p
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