Twilio Inc TWLO shares are trading lower by $8.12 (24 percent) at $25.82 in Wednesday session.
The company shocked the Street when after announcing a Q1 EPS beat of $0.02 along with a $3.8 million sales beat, but reduced Q2 adjusted EPS and FY 2017 guidance. The company forecasts wider losses on less revenues for both.
See Also: Twilio's Guidance Cut An Uber Thing, Not Indicative Of Core Business
After being pounded from Tuesday's close ($33.94) all the way to $22.75 in pre-market trading, Twilio's stock found support way ahead of that level off the open at $24.15. The pre-market low exceeded its former all-time low ($23.66) that was made in its first month of trading in June 2016.
So far, the rebound off that depressed level has taken the stock to $26.44, but has fallen back to the $26.00 area. In order to avoid making a new all-time closing low, it would need to end the day above its June 24, 2016 close at $26.30, which was made its second day as a publicly-traded company.
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