Twitter is flirting with its lowest close in over a month (TWTR)

pulse

March 22, 2018 9:32 PM

Social media stocks have been getting slammed lately.

Twitter shares fell as much as 4.22% Thursday.
Social media stocks have been getting whacked following news of a massive data breach at Facebook.
The breach is prompting concerns about future data regulation, that could hurt social media stocks.
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Twitter shares are sliding Thursday, down 3.33%, as social media stocks remain in the cross hairs following news of a massive data breach at Facebook. A close below $31.32 would be the lowest since February 12.

Twitter, along with social media peers Facebook and Snap, have been under pressure after news of a massive Facebook breach surfaced over the weekend.

Twitter also had its own, unrelated problem this week. The Israeli government complained that Twitter had been ignoring its requests to remove content that suggested violence against the state, which hurt the stock on that news.

The Facebook data breach, which sent social media stocks reeling, has raised two main concerns for investors. The first being that users may start deleting their social media accounts. The second concern is regarding regulation and its potential impact on advertising dollars for these companies.