This social media platform was hit hard in March, but looks to be regaining its footing.
Twitter, Inc. (TWTR)
From Technology & Opportunity
Twitter is an American microblogging and social media company whose platform allows users to post and interact with short written messages known as “tweets.” It has grown to play a vital role in journalism, politics, finance and many other fields, and is one of the 10 most-visited websites on the internet.
The company was founded in 2006 and is based in San Francisco, California. It has over 320 million monthly active users.
In late-March Twitter withdrew its Q1 guidance, saying that the economic slowdown caused by the COVID-19 pandemic is already hitting its advertising revenues. The firm now expects a Q1 operating loss.
In early April, the firm completed a large purge of accounts alleged to be unregistered promoters of certain countries’ governments—a violation of Twitter’s policies. Later in the month, founder Jack Dorsey pledged $1 billion of his stake in Square Inc., a payment processor he co-founded, to provide relief to victims of the COVID-19 pandemic.
We rate Twitter a “Buy” under $35. The risk level is “Medium.”
Jason Stutman, Technology & Opportunity, www.angelpub.com, 877-303-4529, April 2020