Twitter Inc. (NYSE: TWTR)
Twitter News & Technicals
Late Sunday night news came out that 4 top executives of Twitter Inc. (TWTR) had chosen to leave the company. This included: Engineering chief Alex Roetter, produce head Kevin Weil, HR vice president Skip Schipper and media head Katie Stanton. The reason given by CEO Jack Dorsey is that they had decided to “take some well deserved time off”. Shares sold off in the wake of this news and have hit premarket lows so far of $16.72, a 6% decrease from Fridays close of $17.84. We should see some support come in at the $16 and $15.50 levels while the 9-day moving average, currently at $18.43, continues to create resistance. Would like to see TWTR hold the $16 level today for a long sided trade but if it doesn’t we could see some more downside pressure. Currently analysts have an average price target of $32.16.
Twitter, Inc. is a global platform for public self-expression and conversation in real time. It provides a network that connects users to people, information, ideas, opinions, and news. The company’s application provides social networking services and micro-blogging services through mobile devices and the Internet. It can also be used as a marketing tool for businesses. Twitter was founded by Jack Dorsey, Christopher Isaac Stone, Noah E. Glass, Jeremy LaTrasse, and Evan Williams on March 21, 2006 and is headquartered in San Francisco, CA. (MarketWatch)