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Twitter settles securities class action for $809.5 million, shares fall more than 4% at one point

via:凤凰网科技     time:2021/9/21 8:02:20     readed:64


Twitter's share price came under pressure after the class-action settlement was announced

Phoenix Technology News, Beijing time, September 21 news, after the announcement of a $809.5 million settlement of securities class action, Twitter shares are under pressure, in regular trading fell $1.52, or 2.43 percent, to close at $60.95, at one point in the session bottomed out at $59.84, down 4.2 percent.

Twitter said in a press release that it would pay $809.5 million in litigation settlements in cash held. With Twitter's market capitalisation close to $50bn and cash on its balance sheet exceeding $4bn, it could easily pay for it. For Twitter, current valuations and market sentiment represent greater risk.

Wall Street expects Twitter to earn $0.90 a share this year and $1.20 next year. Analysts have cut Twitter's earnings per share forecast in recent weeks, which could be a catalyst for further declines in its share price. It remains to be seen whether Twitter will be able to maintain a 50-fold price-to-earnings ratio if the broader market remains weak and investors start to focus on valuations. (Author/Frost Leaf)

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