S&P 500
7,614.00
-0.11%
Dow Jones
51,326.00
-0.09%
Nasdaq 100
30,630.60
-0.28%
Russell 2000
2,927.38
-0.19%
FTSE 100
10,382.60
-0.05%
Nikkei 225
68,184.20
+1.01%

Technology

Twitter Stock Rallies While Others Falter

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

twitter-bird-blue-on-white

courtesy of Twitter
Shares of Twitter Inc. (NYSE: TWTR) were up more than 4% in the noon hour on Thursday while the three major indexes all traded lower. There is no significant news on the company and we don’t usually consider Twitter a contrarian play. So what’s up?

There are a couple of possibilities. Shares took dive below $38.00 last Friday and slipped near that price again on Tuesday. Twitter was hit with a class-action lawsuit on Friday claiming the company allows spam messages to be sent using short-codes. Then on Tuesday came a report that Pinterest has surpassed Twitter and is now catching up with LinkedIn Corp. (NYSE: LNKD) in popularity among social media users. That is just one survey, but it rattled investors.

Another possibility is that the dip offered buyers an opportunity to pick up Twitter shares at a discount. The consensus price target on the shares is around $43.75 and the stock just bounced off a post-IPO low of around $29.50. The company does not report quarterly results until later in July, so barring any unusually bad news, shares could climb past the price target ahead of the earnings announcement.

Shares were trading at $41.08, up 4.1% Thursday, in a 52-week range of $29.51 to $74.73.

ALSO READ: GoPro IPO: Lights, Cameras, Plenty of Action

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Latest Podcast Episode

Memory Mania: Nvidia News And Mighty Micron Soars As Company Tops $1 Trillion in Market Cap

Play

49 min
Apple Podcasts Spotify

Continue Reading

Chris Lange |

The Top 10 Corporate Earnings for the Week Ahead

24/7 Wall St. has put together a preview of some of the larger companies reporting quarterly results in the coming…

Cisco, Disney, GM, Twitter, Uber, Under Armour and More Major Earnings to Watch This Week
Chris Lange |

Cisco, Disney, GM, Twitter, Uber, Under Armour and More Major Earnings to Watch This Week

24/7 Wall St. has put together a preview of some of the most anticipated quarterly reports due this week, including…

Chris Lange |

Top Dow Earnings for the Week Ahead

One-third of the 30 Dow stocks are reporting quarterly results between July 18 and 22. The main question is whether…

Top Analyst Upgrades and Downgrades: AMC, Alkermes, Echostar, Kohls, L Brands, US Bancorp, Sarepta Therapeutics and More
Lee Jackson |

Top Analyst Upgrades and Downgrades: AMC, Alkermes, Echostar, Kohls, L Brands, US Bancorp, Sarepta Therapeutics and More

The top analyst upgrades, downgrades and other research calls from Friday included AMC, Alkermes, Echostar, Kohls, L Brands, US Bancorp…

Top Analyst Upgrades and Downgrades: Amazon, Fortinet, Live Nation, Pandora, Sally Beauty, World Wrestling and More
Lee Jackson |

Top Analyst Upgrades and Downgrades: Amazon, Fortinet, Live Nation, Pandora, Sally Beauty, World Wrestling and More

The top analyst upgrades, downgrades and other research calls from Friday include Amazon, Fortinet, Live Nation, Pandora, Sally Beauty and…

AT&T, Snap, Tesla, Twitter and More Major Earnings Coming This Week
Chris Lange |

AT&T, Snap, Tesla, Twitter and More Major Earnings Coming This Week

24/7 Wall St. offers a preview of what to expect from some of the most anticipated quarterly results due this…

Jon C. Ogg |

11 DJIA Reporting Earnings This Week (DD, JNJ, MCD, TRV, VZ, BA, UTX, T, CVX, PG)

This coming week is going to be yet another action packed week of big corporate earnings which will move markets…

5 Companies That Destroyed Shareholders Last Week
Chris Lange |

5 Companies That Destroyed Shareholders Last Week

Apple, Twitter and other companies punished shareholders last week, and analysts expect more earnings disappointments going forward.

Amazon, Alphabet, Facebook, Starbucks, Ford, GE, and More Major Earnings Coming This Week
Chris Lange |

Amazon, Alphabet, Facebook, Starbucks, Ford, GE, and More Major Earnings Coming This Week

This week will be perhaps the biggest week of earnings season, with many major names reporting, including Amazon, Facebook, Ford…

Top Gaining Stocks

Hewlett Packard Enterprise
HPE • Vol: 153,197,465
Enphase Energy
ENPH • Vol: 8,360,053
Corning
GLW • Vol: 18,152,646
Alexandria Real Estate Equities
ARE • Vol: 4,337,015
Aptiv
APTV • Vol: 6,761,325

Top Losing Stocks

Trade Desk
TTD • Vol: 21,905,513
Intuit
INTU • Vol: 7,383,018
Coterra Energy
CTRA • Vol: 73,319,495
Cboe Global Markets
CBOE • Vol: 5,000,011
HP
HPQ • Vol: 29,259,826