NEW YORK (TheStreet) -- Allianz Global Investors senior portfolio manager Walter Price discussed Twitter's (TWTR) - Get Report weak 2016 second quarter report with CNBC's Jon Fortt on "Squawk Alley" Wednesday.

"I think the problem with Twitter is they're trying to move to video and video has not gotten traction yet," Price said.

After yesterday's closing bell, Twitter reported second quarter revenue of $602 million, lower than analysts' expectations of $606.77 million in revenue.

"I think I'm going to feel better if I see the deals they signed with the NBA, NHL and the NFL actually result in higher engagement and more time spent on Twitter. I think that's what advertisers are looking for too," Price noted.

The social media giant posted earnings of 13 cents per share, higher than Wall Street estimates of 10 cents a share and it gained 313 million active users in the quarter, above analysts' expectations of a growth of 312.1 million users.

Shares of Twitter are plunging 12.09% to $16.22 early this afternoon.

(Twitter is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with afree trial.)

Separately, TheStreet Ratings rated Twitter as a "sell" with a score of D.

This is driven by a number of negative factors, one of the most important has been a generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: TWTR

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

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