2023-07-28 14:55:51 ET
Shares of Twilio (NYSE: TWLO) were off to the races Friday, initially surging as much as 11.7%. As of 2:41 p.m. ET, the stock was still up 5.3%.
The catalyst that sent the cloud communications specialist higher was a massive vote of confidence from Amazon (NASDAQ: AMZN) .
In a regulatory filing issued late on Thursday, Amazon revealed that it had taken a 1% stake in Twilio, acquiring 1.7 million shares worth more than $108 million as of Thursday's market close.
For further details see:
Why Twilio Stock Got a Boost From Amazon on Friday