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One tweet cost Twitter $8 Billion

Accepted submission by GlennC at 2015-04-29 18:30:11
Business

GlennC [soylentnews.org] writes:

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.

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.

http://www.bbc.com/news/technology-32511932 [bbc.com]

At one point in the final hours of trading, the stock had lost more than $8 BILLION.

Original Submission