Ian Winer was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick. Tune in to the daily broadcast live Monday-Friday at 8 a.m. ET here.
Ian Winer, Wedbush Securities Director of Equity Trading, discussed Twitter Inc TWTR on the show and felt the stock was headed lower.
"Everybody on the Street has gone from short to long" Winer said as he noted how "the bulls are talking about how MAUs are backward looking."
Winer noted that user base acceleration had "cooled off" and with a large market cap it would require institutional investors to get excited about the stock in order to push it higher.
"At $50 you're going to need some real institutions to come in and believe this is worth $60 or $70," Winer said.
Winer concluded that "we'll find that out [more] when they report," however, it looked like Twitter was "going lower."
Twitter Inc recently traded at $50.82, up 1.86 percent.
Listen to the show here:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
