Monday’s Headlines: Why Did Twilio Jump 7%?
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Moving Down ⬇️
To our U.S. readers, we hope you have a meaningful Memorial Day.
1. Shares in Twilio jumped 7.5% on Friday after news broke that it will power New York City's contact tracing initiative. The cloud-based communications firm will deploy a contact center on Twilio Flex and use Twilio SMS and Voice as key parts of NYC's COVID-19 tracing program, via the city's Department of Information Technology & Telecommunications. The company’s value has almost tripled since mid-March and is up 93% in the past month alone as demand for cloud services soar amid the coronavirus lockdown. Read more here.
2. American Tower shares soared 6.3% on Friday after the analysts turned bullish on the REIT due to its attractive price and surging broadband demand. One analyst noted that: "AMT is benefiting from very strong emerging market demand, and India which has been a drag, appears set to accelerate growth as the industry has consolidated down to a reasonable level." American Tower’s share price has fallen more than 4% in the past month, yet its stock is still up 21% year-over-year. Get the complete story here.
3. Amazon may be forced to delay its most profitable day of the year — Prime Day — as it struggles with an unexpected surge in demand. On Prime Day, Amazon promotes thousands of deals to draw in customers and convince them to sign up for its unlimited shipping service and has proven to be the most important date in the company’s calendar. With COVID-19 making online shopping the ‘new norm’, Amazon has had to make several moves to limit the sale of items it doesn't deem essential, which could include moving its all-important day to September. Get the full report here.