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Actionable news in TWLO: Twilio Inc,

Jim Cramer — Twilio Needs to Find Support at $40

Shares of Twilio (TWLO) are down a little more than 5% Friday, but that's better than the 8% slide the stock saw in premarket trading after the company announced a seven million-share follow-on offering.

The offering is being priced at $40 per share, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop...