Twitter Could Be Gunning to Hit New Highs
Twitter has long-term potential, but for now it makes sense to lock in some profits.
Sean Udall is the author of the TechStrat Report, a tech focused newsletter. The following is a free sample. Take a free trial!
I'm peeling a touch of Twitter (NYSE:TWTR) here in the $39s, as this is a 30%-ish increase from my lowest purchases on the name and much higher returns on some of the calls I bought when everyone was panicking.
I'm keeping 85-90% of my exposure, but I feel it's prudent to take a little bit off the top, even though this is still my number one name for potential future upside.
I still believe TWTR gets back on the "Google (NASDAQ:GOOG) post-IPO" price ascension path.
In my post on May 29th on this subject [subscription required], I noted:
Thus, over time I see the stock challenging old highs and making new higher highs. That said, the time frame on those predicted $55, $75, $100, and $150-plus prices is currently cloudy.
Also, for me, it's always easier to buy the dip on future pullbacks if I've taken some off on the way back higher.
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