30 Apr '15, 5pm

How One Tweet Cost Twitter $8billion in Market Cap

Twitter was due to announce its earnings for the first quarter of the year after close of trading on the New York Stock Exchange, where the company is listed. Announcing results after the markets close gives investors a chance to digest the news, sleep on it, and then start trading again the next day. Except it turns out that somebody thought it would be a good idea to release this information early, on the technology-led Nasdaq-run investor relations page for Twitter. Initially it seemed no-one really noticed the error, until a well-placed tweet highlighted the mistake and revealed Twitter’s disappointing results. The markets were still trading, and Twitter had not had the chance to formally present its results in a statement that would have bathed them in a more flattering light. So who is to blame? Well, it seems that Nasdaq slipped up here after Twitter furnished the e...

Full article: http://www.thedomains.com/2015/04/30/how-one-tweet-cost-t...

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