Twitter Shares Jump on This Short Seller’s Bullish Remark
Author By Sophia VidaPosted on Shares of social media site Twitter saw a jump in share price after Citron Research’s Andrew Left predicted a big rally for the stock.
Left said that shares of the stock will go higher due to the company’s initiatives to deliver “personalized content.”
He wrote on Twitter, “$TWTR has hit a level of relevancy as never before. With privacy concerns in its rear view & execution on all fronts -Citron expects new highs. Tgt price-$52.”
“Toutiao: if you don’t know the name, read the story,” Left also said.
This was in reference to a China-based news and information platform. The parent company of Toutiao is seeking $75 billion valuation round, according to the investor.
Left believes this should raise the perceived value of Twitter.
Toutiao’s “success has largely been attributed to the platform’s ability to deliver personalized content via a simple user interface, something Jack and his Twitter team has been very focused on,” Left explained.
Disclaimer: We have no position in Twitter Inc. (NYSE: TWTR) and have not been compensated for this article.
