Dallas, Texas 12/30/2013 (FINANCIALSTRENDS) – The share price of Twitter Inc (NYSE:TWTR) witnessed as sharp dip when Macquarie downgraded the Twitter’s value and said that the stock has gone “too far, too fast”. The share price of the micro blogging online portal fell by whopping 13 percent and closed at $63.75. Since its Nov. 6 initial public offering IPO the share price of Twitter inc. has almost tripled.
An analyst with Macquarie named Ben Schechter lowered the rating of Twitter inc. to neutral from under-perform which is considered as an equivalent of sell. The share price of Twitter Inc. has almost jumped by 40 percent since Macquarie initiated coverage on 11th December. As per Ben Schechter he believes that Twitter as a micro blogging portal has got a very bright future and there are plenty of opportunities ahead for the company. Everybody was surprised when the share price of Twitter Inc. reached a very high level which is much above the target set by Ben Schechter and that was $46.
Overview of Twitter Inc (NYSE:TWTR)
Twitter is a popular online social networking as well as popular micro blogging website that have got millions of users. The best thing about this website is that it allows its users to posts different messages called as tweets. With the help of these tweets many famous personalities can express their views and suggestions to large section of people. Another reason why it is so popular is that it is very user friendly and offers audio-visual options also.
The company was founded in 2006 by four partners named as Evan Williams, Jack Dorsey, Biz Stone and Noah Glass. It was listed on New York Stock Exchange in 2013 and many industry analysts are of view that this stock has got a great potential and will see a good upswing in the months to come.