Why Twitter Stock Crashed 20%

Twitter (NYSE: TWTR) investors are having a very bad day. Shares of the social media company had crashed 19.8% by 11 a.m. EDT Friday, despite Twitter reporting third-quarter earnings last night that showed revenue blowing away the consensus ($936.2 million versus $777.2 million), and pro forma earnings of $0.19 per share coming in at triple the expected $0.06. In the second quarter, with the COVID-19 pandemic in full swing and many Americans housebound, Twitter added 20 million new users, reports The Wall Street Journal.