|Day's range||19.64 - 19.64|
Customer engagement expert Twilio (NYSE: TWLO) just made a small but telling change to its business plan. The development platform provider is shedding its Internet of Things (IoT) business, also known as the Twilio Wireless unit. The company is leaning into its core strengths right now, while passing the IoT torch to a microcap called KORE Group Holdings.
Twilio (TWLO) closed at $62.34 in the latest trading session, marking a +1.4% move from the prior day.
The S&P 500 has been in a bear market since last June. The index is up by 5% since then, and up by about 12% from the low point it touched in early September, but that's well below the 20% (or more) sustained gain required before we can say that it has entered a new bull market. Many growth stocks have languished as rising interest rates drove investors toward more conservative investments.