Tuesday, 6 May 2014

TWTR - the rats sell after being unlocked

Twitter (TWTR) has had a tough time since the late 2013 rally to $74. The recent break of the core support floor has opened the door to an eventual hit of the IPO issue price of $26. TWTR, settled -18.2% @ $31.71, on extremely large sell side volume, after the latest unlock.

TWTR, daily


Suffice to say, I find it highly amusing to watch this loss making hysteria surrounded stock get another smack down.

Until it starts turning a profit, along with a long term business plan that makes even mediocre sense, I can't take it the least bit seriously.

Primary target is a hit of the IPO issue price of $26.

If the broader market can slip into the sp'1600s this summer...then TWTR could be in the teens.