Twitter Inc Tumbles But Is Near A Major Bottom
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. I stress 'close', as it still should go a little further to the downside. Ultimately, I am looking at the $32.75 area with a small possibility of buying more on a break of $30.00. This range is extremely high reward and could be seen this week. When investors and the media bash and spread fear, smart investors get very interested in buying a stock like Twitter Inc.