Of course, using trailing data for companies expected to rapidly increase revenue is a bit like driving a car while looking in the rear-view mirror, but those numbers are still a bit frightening in the case of Twitter, a company that has never earned a dime. FB PS Ratio (TTM) Chart FB PS Ratio (TTM) data by YCharts

I get the hype, I understand the hoopla, I am a Twitter user. I wonder, however, how many other Twitter users, like me, send out the occasional tweet, perhaps a few per week, but never bother to read tweets from those they "follow"? It's not due to lack of interest; there simply are not enough hours in the day.

There is no doubt that Twitter represents a great breakthrough in communication and social media. But there's sometimes a disconnect between price and value; everyone wants to own the overhyped shiny object that costs $20, but in reality is worth much less. Twitter may have significant value, but that is likely to be obscured by the frenzy of one of the most anticipated IPOs in our history. It's better, in my view, to let the dust settle on this one. It will, however, be fun to watch.

At the time of publication, the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
At the time of publication, Heller was long XXXX.

Jonathan Heller, CFA, is president of KEJ Financial Advisors, his fee-only financial planning company. Jon spent 17 years at Bloomberg Financial Markets in various roles, from 1989 until 2005. He ran Bloomberg's Equity Fundamental Research Department from 1994 until 1998, when he assumed responsibility for Bloomberg's Equity Data Research Department. In 2001, he joined Bloomberg's Publishing group as senior markets editor and writer for Bloomberg Personal Finance Magazine, and an associate editor and contributor for Bloomberg Markets Magazine. In 2005, he joined SEI Investments as director of investment communications within SEI's Investment Management Unit.

Jon is also the founder of the Cheap Stocks Web site, a site dedicated to deep-value investing. He has an undergraduate degree from Grove City College and an MBA from Rider University, where he has also served on the adjunct faculty; he is also a CFA charter holder.

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