Thursday, December 05, 2013

Twitter finally closes above it's IPO opening price

How about that, on an otherwise dour, down day for the stock market, Twitter (TWTR) pops up 4.42% and closes at $45.62, $0.52 or 1.15% above it's IPO opening price of $45.10. It only took about a month.
There were a couple of relatively minor news items. I guess the shorts just got tired of the intense struggle with the "social media bulls" and threw in the towel.
What's next? I think mostly the stock is likely to stay in a range holding pattern waiting for news about revenue and earnings for the next few quarters which will be a "do or die" period for the company.
I still have only my modest position from the open on the opening day. I still intend to add to my position over time, but only on 15% dips. Based on today's close of $45.62, the stock would have to fall to $38.78 for me to buy more. My buying price would rise as/if the stock continues to move up incrementally.

-- Jack Krupansky


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