Twitter Shares Take a Beating in Friday's Session
Shares of Twitter had been on fire until Friday's massive selloff. S&P Capital IQ's Scott Kessler says that while the company has great potential, the selling is warranted.
Shares of Twitter have been on fire throughout the month of December tripling from its IPO price of $26. That was until Friday's session, when Macquarie Capital's analyst downgraded Twitter's stock to 'underperform,' triggering a massive selloff. S&P Capital IQ's Senior Equity Analyst, Scott Kessler, says while the company has great potential the selling is warranted. His price target is $43, a far cry from even Friday's bruised levels of roughly $65. TheStreet's Jeanne Yurman reports from New York.
This article was written by a staff member of TheStreet.
