Why Twilio Stock Was Down This Week
Twilio (NYSE: TWLO) shareholders had a rough week. The communication services stock fell 14% through Thursday trading, according to data provided by S&P Global Market Intelligence, compared to a 0.8% uptick in the wider market. That performance continued a weak short-term trend for the stock, which is down 75% so far in 2022 versus a 23% decrease in the S&P 500.
The slump came as investors worried about a potential recession on the way, spurred on by inflation and rising interest rates. Wall Street is also concerned that Twilio will have some downbeat comments about the current selling environment in its upcoming earnings report.
Twilio is set to announce Q3 earnings on Nov. 3. The cloud services company will also hold its annual investor day, during which the management team will discuss those quarterly results along with any change to the company's outlook for 2022 and beyond.
Source Fool.com
