BBC is linkbaiting now?<p>One tweet didn't wipe $8bn off its value, the results did. If the results were released next day, it still would have lost value ffs. I feel angry reading through this and realizing it was a waste of time fluff.<p>Say what you will, its evident that HN crowd loves sensationalism more than content, as seen again and again.
The salient information:<p><i>Well, it seems that Nasdaq slipped up here after Twitter furnished the exchange with earnings details ahead of time ready for official publication.</i><p>...<p><i>Selerity then made sure that everyone knew about it through Twitter's own platform, but it did not break any rules in doing so as the results had already been published and were effectively in the public arena.</i><p><i>"We inadvertently released an early version of their [Twitter's] earnings," Nasdaq said.</i>
If Twitter knew this rough patch was coming (albeit not so soon), why did they remove the Discover and Activity tabs from their mobile app? Just anecdotally, I, and everyone I know, spent more time on Twitter because of those two features. Isn't driving more engagement and longer time-in-app tied to revenues? Financial considerations aside, why remove those?
Mistakes like this are unfortunate, but once made, it's shocking that the SEC allows them to them to take the content down.<p>The wishful thinking that it "undoes" the error is understandable, but in reality that's not possible, and it really does is restrict access, give unfair access to information and effectively enables select parties to trade on insider information.
So, I was following this accidental leak on reddit, someone made a really good comment. It goes as follows, regardless of the loss of market cap. <i>Who</i> would've thought that Twitter would be a viable two billion dollar company? Wow. They've achieved a lot. Props to them, even though they have a volatile stock.
$8b was wiped off of the value, but personally I think Twitter was over-valued in the first place. So maybe this brings it more into line with what it's really worth.