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Twitter Inc (NASDAQ: TWTR)'s investors woke up on Friday to find the stock trading lower by more than 3 percent following a concerning report from RBC Capital Markets.
The analysts downgraded Twitter to Underperform from Sector Perform and slashed its price target to $14 from a previous $17.
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Of note, Mahaney oversaw a survey involving 1,100 advertising professionals, including agency representatives, marketers, marketing consultants and media representatives.
Mahaney noted that the survey represents "the weakest result we have seen and the first time we have seen a negative skew towards spending."
Who Cares?
Investors quickly brushed aside Mahaney's report after CNBC's David Faber reported Twitter has "received expressions of interest from several technology companies and may receive a formal bid shortly."
According to Faber, Alphabet Inc (NASDAQ: GOOG) and salesforce.com, inc. (NYSE: CRM) are among several companies that may be interested in acquiring the social media platform.
Shares of Twitter were trading higher by more than 20 percent to $21.70 following Faber's report.
Of note, this is far from the first time Twitter's name has been mentioned as a possible takeover candidate from reputable sources.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.