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Why Twilio, Fastly, and Zscaler Stocks Are Falling Today

Chris Neiger, The Motley Fool
·3-min read
Why Twilio, Fastly, and Zscaler Stocks Are Falling Today

The share prices of some technology companies were tumbling fast today on no company-specific news, but rather on the latest jobs report, which showed that the number of new hires increased by far less than expected in March. Against that backdrop, shares of the customer engagement platform Twilio (NYSE: TWLO) fell 8.4%, the content-delivery network company Fastly (NYSE: FSLY) plunged 8.6%, and the cybersecurity company Zscaler (NASDAQ: ZS) dropped 8.8% as of 11:15 a.m. ET on Wednesday. The latest ADP payroll data showed that hiring in the private sector increased by just 145,000 in March, which was down from 261,000 jobs in February and below the estimate of 210,000 for the month.

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