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Meta Platforms Inc. (META $713.58)
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TELUS Corporation (T $22.50)
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TELUS International (Cda) Inc. Subordinate Voting Shares (TIXT $5.49)
Q: TIXT continues to drop (today down around 10%) with no news that I can find. Are you aware of any reason for the significant drop? Also, what is your take on how the senior executive team at Telus could have got this so wrong?
5i Research Answer:
There is no company news. Some speculate that META's (a customer) fact-checking changes could impact its revenue. However if this is a material change the company should disclose it. Lawsuits have also emerged, as they always do when a stock suddenly drops. The parent company, if one is cynical, may not be surprised. Maybe it wanted to start exiting an investment in a future problem. But the disaster likely surprised them as well.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in META.