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Is Twitter a Buy Under $50?

Published 11/22/2021, 08:19 AM
Updated 11/22/2021, 09:31 AM
© Reuters.  Is Twitter a Buy Under $50?

Shares of social networking service provider Twitter (NYSE:TWTR) have declined significantly in price over the past few months. However, can the stock rebound based on the company’s strategic collaboration and new product and services launches? Let’s find out.The public self-expression platform provider, Twitter, Inc. (TWTR), has been making consistent product and services developments over the past few months. Last month, it said that there was a ‘modest’ impact to its ad revenue from privacy changes that Apple Inc. (NASDAQ:AAPL) rolled out on iOS devices. However, the stock has declined 26.8% in price over the past month and 33% over the past nine months to close Friday’s trading session at $48.40.

Real Money's Jim Collins described TWTR as a ‘lousy investment’ this month. Also, several insiders have sold TWTR shares over the past few weeks. Vijaya Gadde sold 14,471 shares of TWTR at $52.61 per share on November 15. Ned Segal sold 5,000 shares on November 9, while Robert Kaiden, the company’s Chief Accounting Officer, sold 10,637 shares on November 5.

In addition, hedge funds’ interest has recently declined in the stock. So, TWTR’s near-term prospects look uncertain.

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