It was a tough day for Twitter shareholders and a great day for those who are short with the stock falling 17.8%

Chris Weston

Pepperstone

It was a tough day for Twitter shareholders and a great day for those who are short with the stock falling 17.8%. Volume was huge, with 134 million shares changing hands. The highly anticipated lock-up period expired and 480 million shares were eligible to be sold on the open market and it seems many of the insiders and employees were keen to dump their holdings. The stock is oversold trading three standard deviations from its 20-day moving average and its 9-day RSI is at 18. However it's hard to see how this name sees a material bounce anytime soon.


Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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