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Berger: Twitter’s unexpected rebound
Serge Berger, better known as The Steady Trader, is focused on Twitter and a potential rally for the troubled social media stock. Twitter has been under pressure over the past year, especially since its latest earnings report in late April which resulted in a heavy sell off in the company’s stock. Twitter CEO, Dick Costolo has been subject to relentless criticism by investors who have called for his departure, but on Friday at the Code Conference he said that he and the board are in “total sync” when it comes to both his future and the future of the company. Costolo’s future plans for the company, which could involve abandoning Twitter’s chronological feed, caused the stock to rally 1.15% on Friday after the conference. Serge notes that the trading of Twitter’s stock typically involves a quick intraday boost that is later sold off throughout the day. A break in this pattern could surprise these short-term intraday investors and trigger a “short squeeze.” Serge is looking to buy the stock at USD 38.00 with a price target of USD 41.00. A stop can be placed at USD 36.00.
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Non-independent investment research disclaimer
01:39 minutes
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