Media and Tech Stocks Take a Hit

Aug 25, 2015

Monday was a rough day for media stocks, particularly Netflix and Twitter. Twitter hit an all-time low, trading under its IPO price. Meanwhile, Netflix continued a downward trend that began a few days before, losing about 20% of its value over the course of a few days.

These weren't the only stocks affected. The entire market took a hit Monday morning, including Apple, which fell below $100. Many media and tech companies were hit, but managed to rally before closing. While global concerns were blamed for overall stock market plunge, Twitter does seem to have investors worried. Still lacking a permanent CEO and having trouble attracting new users, Twitter's growth prospects are currently a bit dim.