Twilio Inc TWLO shares are trading lower by $3.45 (5 percent) at $65.27 in Friday's session. At this time, there is no specific news on the issue to account for the decline.
Keep in mind, the issue made a new all-time high on Wednesday at $70.97 and posted its all-time closing high at $68.97. The issue has rallied over 180 percent (at its closing high) since the low it made it made on its first day of trading at $23.66 on June 23.
Following a higher open ($69.60 vs. Thursday's close of $68.72), it rallied only another penny before profit-takers flooded the issue. So far, the ensuing decline has taken the issue to $63.50, comfortably above Monday's low of $62.38, which is also stands as the low for the week.
It should be noted that today's price action is taking place on slightly higher than average volume. With just less then two hours remaining in the session, 5.5 million shares have changed hands compared to its 20-day average of 4.8 million.
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