Let’s be clear; 2016 has been full of action for Twitter. Buyout rumours, loss of numerous executives etc… The share price has been through an absolute roller coaster!!
Only last week we heard the news that two more executives are leaving the company. This was followed by a bearish report by Global Equities Research claiming that the stock doesn’t even worth $10.
On the other hand we all know that Twitter beat the estimates in the last quarter. Some institutions opened long position on Twitter as well.
The stock price was $16.39 at the end of Wednesday. We believe this drop was an overreaction and the stock is going to bounce. Our target price is $17.50.
This cannot be considered an investment advice!!