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Twitter Tumbles 50% From Recent All Time Highs
Despite being told for weeks that the always efficient US equity market had "priced in" the end of Twitter's lock-up period, it seems (surprise, well not really - the riggedyness is such that stock have long forgotten what it means to discount anything) that it hadn't. Yesterday, some Twitter insiders were promising they would hang on to their stock now that the selling lock up has been lifted. To wit:
“We’re going to hold,” said Chris Sacca, an early Twitter investor, who manages about 15 percent of the company’s shares through various arrangements. Analysts and other investors are focusing too much on user growth and instead should “just recognize how much money Twitter is going to continue to put up on the board.”
Co-founder Jack Dorsey and Chief Executive Officer Dick Costolo will also keep their stakes, the company said in an April 14 regulatory filing. Rizvi Traverse Management LLC, whose 14 percent ownership makes it the single-biggest investor, won’t sell either, people with knowledge of the situation have said. Some of Sacca’s holdings are included in Rizvi.
“This should, arguably, help alleviate some of the potential pressure on the stock in the coming weeks,” Arvind Bhatia, an analyst at Sterne Agee & Leach Inc., wrote in a note to investors. He has the equivalent of a hold rating on the stock.
Turns out it didn't. And turns out that, judging by today's price action where TWTR is down another 7%, and is down over 50% from its all time high hit in late December, the insiders lied.
The selling pressure began in the last hour of yesterday's trading:
Which leaves TWTR trading at a 50% discount from its recent all-time highs...
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SURPRISE!!!!!!!!!!
Whodathunkit.
Twatter, Faecesbook.... whatever. This guy knows the score.
https://www.youtube.com/watch?v=EXWXjUIMLQc
Update: Now down nearly 15%.
Who in their right mind would hold their shares once the lockup expired?
Mortimer: "Idiot! Get back in there at once and sell!, Sell!, Sell!!!"
The most pathetic thing is a grandma type who thinks she's 'with it' because she's on Facebook now.
Telling her its a spy grid . . . well, that'd just overload her mental/emotional circuits.
Exactly. A collective of Bird Brains twittering. It's the new social barometer.
it's the new social thermometer.
It's the new revolution maker...
Ooohhh...that last one, True Value...
ori
http://aadivaahan.wordpress.com/2010/12/20/twit-twit-2hooo/
Would that be an oral or rectal social thermometer?
pods
Depends on which trend you are "probing" for Pods...
ori
Luckily, it's 'the [5th] summer of recovery'
Green shoots and blue sky!
It's morning in America.
We have a robust economy lead by an inspirational leader, a dear leader, truly one for the history books.
All right you jerk-offs, stop signing your posts with your login name. No one gives a shit whether you build your "personal brand" or not. And we can see your fucking login name at the top of your posts.
Well, you'd think a business model based on Americans blabbing about mindless, useless bullshit would be highly successful.
looks like all these dumb fucks who invested in twitter at 1st are now buying another grossly overvalued company that has not come out with anything exciting since steve jobs passed away in appl.
what a joke now that aapl is above 600, it should be at 100.
Twatter, Farcebook, Netflix... the list goes on, are all overvalued companies, but as far as your Apple valuation you are wrong. They have more than that in cash.
And they just announced their game-changing new product, ending the long drought since Steve Job's death:
The iBuyback.
This new marvel of technology will transfer cash directly into investors hands, over the internet, allowing them to see higher stock valuation in the market.
Strangely, the tech blogs have no news on this incredible new Apple product. Financial blogs picked up on it immediately, however.
That product innovation been around for some time; it's called a dividend.
Um, what?? Are you saying you don't understand the difference between a stock buy back and a dividend?
Remember that for Apple's alleged "cash", you have to discount it by 30% just for the fact that its offshore, and discount additionally for the probability that a large amount of it is tied up in vendor finance schemes, supplier guarantees/loans, and the like. Its not like "cash" as you may have sitting in your wallet, just waiting to be spent.
Somewhere that everyday Joe who ZH profiled in December is laughing his ass off- he called a perfect top - bravo, guy whose name I cant remember...
Despite Zero Hedge having one of the finest Twitter feeds of them all – timely, accurate, relevant and with a mordant wit few can approach.
I am not a Twitter investor but I like the technology. Facebook? Well..that is a different story.
Actually Twitter is just an open e-mail application. Shit simple.
Facebook is a far more complex operation from that perspective.
Even Netflix, to run such a massive, real-time video-streaming business is not easy.
Twitter is a piece of nothing.
But it did prove that the world is full of bird-brains.
ori
The simpler the better! It is bird brain friendly for canaries like me.
Yeah, but rumor has it that they're going to sell watches for 600 dollars that will tell you when you're iPhone receives a mail or a call.
So most probably, 1 billion people will want that because when you put your iPhone in your pocket and put it on mute, you can't hear the ringing...
RUN....TO.....THE....HILLS.......
RUN....FOR....YOUR....LIFE!
Why is it when I read these stories I instantly start singing Iron Madien?
dont get it
You mean people are not really into reading every passing random braindeadening thought morons around the world fart out onto global kiosk?
No fuckin way!
It's not that people won't spend endless hours reading the random, narcisstic thoughts of so-called celebrities, it's that there is no way to monetize it in a way that justifies Twitter's current valuations. Can't charge a monthly subscription, and there's a limit to how many ads you can embed.
These "social" stocks are all a house of cards. Twitter is just the beginning. Their valuations for what they "produce" are absurd. They will all come down to earth just like the internet stocks, tech stocks, housing stocks, and financial stocks did. Just a matter of time.
I agree. Just what exactly is it that these social media outfits "produce"? What is the value added to the economy?
given news content & given quick updates to disasters or openings for movies (which make money) I'd say lots is produced.
However, I see no way so far twitter can actually make money for themselves doing this. No one wants to pay to use twitter & if there's ads I've never seen one.
Still overvalued as is Facebook!
The U.S. Fake news companies love Twitter because they use any random tweet from someone famous to segway into a topic they want to become "news". Any agenda they want moved to the forefront can now become news if some B level washed up celeb tweats about it or posts it on their stupid Facebook.
https://www.youtube.com/watch?v=kUvU5aR9ido
Twitter is for twits so says my "Rawcus Cawcus"
It'll go back up when their non-GAAP numbers start to show positive earnings.
Wall Street hyped-up all these simple technologies to pay billions for them. Their always looking for the next Angie's list or twitter. The DOT COMs have switched to Social media.
Twitter's in the shitter!
Might turn out to be a short squeeze fave
Shorting halted as of 9:45 AM Eastern this morning.
Well, color me surprised! In a few years sociologists and market commentators are going to scratching their heads and wondering why seemingly no-one learned from the tech crash.
I noticed CNBC pulled the video of the "analyst" saying that since nothing much happened with TWTR share prices on Monday, nothing special was going to happen on Tuesday.
Snow!
Cramer said yesterday a.m., it's ok if you sold half your Twatter, but definitely hang onto the other half...lol he's almost as good as Gartman
Clearly TWTR is made of BTC. Both price charts are doing the same thing! Hahahahaha
I guess I need to tweet more..
What I just read about Twitter on some random website:
"Bloomberg reports some of Twitter’s biggest stock owners who in total have at least 205 million shares, including venture capital firm Benchmark and co-founder Evan Williams, have declared they’re not letting go of their equity. That’s a vote of confidence in Twitter, which is grappling with a 39 percent plunge in its stock this year as investors question the company’s slowing user growth.
That's really too funny. They are shitting their pants like never before, but "confidence". Yeah right...
Maybe somebody on CNBC can comment on that pls?
Bag holders
Finally some people waking up, suits them. Who buys a NASDAQ bubble 2.0...
Another very funny one:
Posted by Gareth Soloway Tuesday, May 06, 2014, 11:57AM ET
I shorted Twitter Inc (NYSE:TWTR) $70.35 earlier this year. I did so because there was total euphoria, greed and every other adjective to describe investors buying without any worry in the world. It was an obvious top. Today, Twitter Inc is trading at $34.43 - 4.32 (-11.15%). Amazing drop from its highs. As panic sets in, I am starting to find the stock very attractive. The panic selling today is telling me it is getting close to a near term bottom.
...
When investors and the media bash and spread fear, smart investors get very interested in buying a stock like Twitter Inc.
Obvious.
Very attractive now.
Smart investors.
Very interested.
LOL!
TWTR -16% at 3pm? I guess some of those "biggest stock owners" will be starting to change their mind about not selling...
As of when do you officially start talking of panic selling? minus 20%? minus 30% in one day?
I'm thinking it's going to open tomorrow at $25.
I valuate this stock at $0.10
FacePuke sold out to Barry, Goldman and NSA. The Queen CEO cashed out +$100M the other week. What is there not to understand?