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Citron on Twitter train amid deal chatter; shares up 9.3%

Published 01/26/2018, 03:12 PM
© Reuters.  Citron on Twitter train amid deal chatter; shares up 9.3%
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  • Already up strong on the day, Twitter (NYSE:TWTR) shares are up 9.3% and re-nearing a 52-week high hit two weeks ago with deal rumors circulating, and noted short seller Citron Research issuing praise.
  • Unsupported chatter about a potential buyout by Salesforce.com (CRM +1.3%) is fueling some of the buying, Bloomberg notes. Call volume on TWTR is outpacing put volume by a factor of eight today.
  • Meanwhile, Citron says it gets a lot of emails about what it might be buying in this market. "Have been long $TWTR and agree with Hedgeye and Greenlight that 2018 is the year for $TWTR," the firm tweets.
  • "Target $35, Think Tencent buys," Citron continues. "Now go bash Citron on $TWTR." A $35 target implies another 44% upside from today's sharply higher price.
  • Tencent (OTCPK:TCEHY) is up 2.8% on the day.
  • Now read: Salesforce: Is The Stock Fairly Valued?


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