Twilio Inc TWLO shares are trading lower by $6.45 910 percent) at $54.13 in Monday's session. Investors have turned cautious on the issue after the company announced a $400 secondary offering million on Friday.
The issue, which ended its first session on June 23 at $28.79, reached $70.96 on September 28 and posted its all-time closing high that same day at $68.97. Since reaching that elevated level, it has traded lower in five of its last seven sessions, with today replicating the $4 decline the day after making its all-time high.
After a lower open, it failed to reach the lower end of Friday's range ($59.27), as $58.91 stands as the intra-day high. It has continued to make new lows on the session, with current one standing at $54.18.
If the decline continues over the next few days, based on the daily charts, there may not be any major support until the $53.50 area, where the issue made a pair of lows on September 15 ($53.26) and September 16 ($53.66).
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.