Top 5 Losers on Tuesday

3. Twitter, Inc. (NYSE:TWTR)

Number of Hedge Fund Holders: 69

Shares of Twitter, Inc. (NYSE:TWTR) slid over four percent in the pre-market trading session today. The drop came after multiple news agencies published reports, stating serious allegations by Twitter’s ex-security head Peiter Zatko.

According to Zatko, Twitter, Inc. (NYSE:TWTR) faces major security issues, posing a risk to the personal data of users on the platform. In addition, the microblogging site has misled regulators over the platform’s safety and fake accounts, according to Zatko. Zatko also said that senior executives at Twitter, Inc. (NYSE:TWTR) lack the resources to completely understand the actual number of fake accounts on the site.

The latest revelations are expected to hurt Twitter, Inc. (NYSE:TWTR) in the legal row against Elon Musk, who has accused the social network of hiding information about fake accounts. The two parties will soon face each other in a court trial.