There were a few online media stocks that took a hit today, but the Twitter stock was not one of them. And that’s because of Citron Research’s Andrew Left.
Intrigued? Keep reading!
Andrew Left Pushes Twitter Stock Higher
On Monday, the Twitter stock closed up nearly 3%. At press time, TWTR is in the green in the after-hours session as well. Why? As I said, it’s all because of Andrew Left, an activist short seller.
Left, 48, made some surprisingly bullish comments about Twitter today. It’s surprising because he was once very bearish about the San Franciso-based company. That’s all changed, though.
On Twitter, Left wrote that Citron Research is now expecting new highs, due to things like “privacy concerns” being behind the company.
https://twitter.com/CitronResearch/status/1029013938787180544?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1029013938787180544&ref_url=https%3A%2F%2Fwww.cnbc.com%2F2018%2F08%2F13%2Ftwitter-shares-rise-after-citrons-andrew-left-predicts-big-rally-for-.html
But it gets better. Left and Citron have a new prediction for where the Twitter stock will be in a year. In fact, they’ve even called it their “most bold and confident analysis to date” on TWTR.
Ready for it? Okay, Citron Research and Andrew Left are now forecasting that Twitter will hit $52 within 52 weeks.
With that prediction in mind, the market was also bullish on the TWTR stock today.
The Stock (NYSE:TWTR)
At market close, according to Yahoo Finance, Twitter was trading at $32.80, which means the online media stock ended the day up 2.47%.
Meanwhile, as of 5:53 p.m. EDT, Twitter is up 0.24% in after-hours trade.
Other Twitter News
Twitter was in the news for two reasons today. First because of Andrew Left, and second because of Mark Cuban, the billionaire investor.
On Monday, Cuban informed the market that he doesn’t own the stock anymore. And while you may have expected this to cause the stock to plunge, it didn’t. Why? Probably because Cuban made it clear that it wasn’t “for any particular reason,” he just wanted to gather “as much cash as possible.”
The Takeaway
What do you think about all of this Twitter news? Do you honestly think the Twitter price can hit more than $50 within a year?
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Featured Image: Twitter
