THR, Recode

Why Twitter Shares Dropped More than 18% in Early Trading This Morning

Oct 6, 2016  •  Post A Comment

Stock prices fell sharply for Twitter in early trading today, with the decline coming after reports surfaced that Google and The Walt Disney Co. will not be putting in bids for the company.

It is also now unlikely that Apple will bid on Twitter, which leaves the cloud computing company Salesforce.com as the leading suitor.

According to The Hollywood Reporter, Twitter shares fell more than 18% in early trading this morning.

“Disney, which reportedly considered a possible Twitter bid, has decided not to pursue the company, Recode had reported after the stock market close on Wednesday, citing sources familiar with the situation,” THR reports.

Recode also reported that Google, which explored a bid for Twitter, had opted not to move forward, and reported that a bid by Apple is unlikely.

“That for now seems to leave cloud computing firm Salesforce.com as the only potential suitor of Twitter, even though the company has never publicly confirmed its interest in a deal,” THR reports. “Salesforce CEO Marc Benioff appeared on CNBC on Wednesday and declined to comment directly on the firm’s interest in Twitter.”

twitter logo

Your Comment

Email (will not be published)