Thursday, February 6, 2014

Twitter Catches a Beat Down

Twitter (TWTR), the internet darling a few months ago, went fishing and reeled in a keg of whup @$$ today.  On a earnings report that beat financial expectations, but showed that member growth was not as perky as expectations, Twitter is down 23% today as of this writing. One day, almost a quarter of the market value, and a quarter of investor's Twitter holdings, just evaporated. The markets are fickle like that. Revenue was up over 100%.  They made more money than expected, but didn't gain enough new bodies. Makes you wonder what investor priorities are.

I thought there were questions on why it was rising in the first place, so maybe people were waiting for a chance to dump the stock. In any event, the last 2 months of growth just disappeared. The question, do you think this is a short term situation or do you think the bottom still hasn't hit? The stock is selling around $50/share now. It was around $65/share yesterday. I'm going to keep my eye on it tomorrow, that should tell where it's going over the next few weeks/months.

In general, stocks took a beating this week. My beloved Apple went from about $560 to $498 in a few days, but has since bounced back a little.  In any event, I missed the general drop, but if there's no reason for a stock to drop other than the rest of the market, that's a great buying opportunity.

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