Twitter Inc (NYSE:TWTR) seems to be regaining the upside swing much to the surprise of Wall Street having been battered for being an underperformer when compared to Facebook Inc (NASDAQ:FB). The stock has had a tough run since hitting highs of $55 a share. However, sentiments seem to be changing as the $50 mark is back in sight. CNBC’s Pete Najarian thinks the stock could hold on at the current levels as Brian Kelly affirms the same sentiments especially on the ongoing push to monetize users on the platform.
The options market has been extremely active in the recent trading sessions with Calls holding the upper hand against Puts on a 3 to 1 ratio as bullish sentiments on the stock continue to improve.
“The April 50/50.5/51 between those three almost 28K to 30K options are on the call side. People are looking for another move to the upside may be it can test the 52-week highs, $55 was a high in October. It’s been a while since it’s been up there but since we’ve gotten over $50 it seems like that stock wants to hold up there,” said Mr. Najarian.
Mr. Kelly believes that the ongoing positive sentiment on Twitter Inc (NYSE:TWTR) could be as a result of talk that the stock could be a possible take-out target for Google. The search giant acquiring the embattled social network could be interesting to watch as it will be the kind of boost that would allow the company to be more competitive especially against Facebook.
“I know Google Inc (NASDAQ:GOOGL) has social but it is not as good as everything else. So to me not only that, they have actually done couple of things right here and potentially they are going to be monetizing some of these new things. I like Twitter here, am not long right now but I might be,” said Mr. Kelly
Long term believers in the stock believe that Twitter Inc (NYSE:TWTR) could form an integral part of the daily scene in global communications allowing the price levels to tick from the current depressed levels.
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