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Citron's Andrew Left Sells Twitter Stake: 'Congrats To Them'

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Citron's Andrew Left Sells Twitter Stake: 'Congrats To Them'
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Amid Twitter Inc (NYSE: TWTR)’s 28-percent post-earnings rise, Andrew Left has sold his stake.

“Congrats to them, now I am an observer,” the Citron Research founder told Benzinga.

Left tweeted Jan. 26 he had a $35 price target on the stock, which popped Thursday morning from the $27 level to an intra-day high of $35.

Twitter shocked the markets Thursday morning with an earnings beat driven by 14-percent year-over-year rises in both daily and monthly active users. Revenue came in at $732 million and earnings per share at 19 cents against Street estimates of $686 million and 14 cents, respectively.

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The Left Perspective

The short-seller recently asserted that 2018 would be the struggling social’s year.

"You can see the engagement levels on Twitter and the relevancy its playing in our society can't be denied," Left said in January on CNBC. "They dominate that space of social media." Ironically, Left had disclosed his bullish take earlier in the day on Twitter.

His earlier comments sent Twitter soaring more than 8 percent. At time of publication, the stock traded around $33.41, up 24 percent.

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Posted-In: Andrew LeftEarnings News Short Sellers Top Stories Exclusives Movers Trading Ideas Best of Benzinga

 

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