TWO - Twilio plunges 8% on heavy volume

Twilio (NYSE:TWLO) shares fell sharply on Thursday, losing ground on heavier than normal volume. Shortly after 3 p.m. EST, Twilio fell nearly 9% to to $170.35 as more than 5 million shares changed hands. For comparison purposes, the average daily volume is just over 3.3 million shares. It's unclear why Twilio shares fell sharply, though it may be related to broader concerns about Russia potentially invading Ukraine, as tech stocks sold off sharply on Thursday. Earlier this month, Twilio reported fourth-quarter results that topped expectations, but investment firm Monness, Crespi, Hardt said there were some hiccups. Analyst Brian White said "profit challenges worsened," and the loss estimate for the first-quarter was "much larger" than Wall Street was expecting.

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Twilio plunges 8% on heavy volume