After a great run, Twitter is finally coming back to Earth.
The stock is down 8.8% today (and it’s falling more each time we refresh the page).
There was no real catalyst for the stock’s run, so investors may be profit-taking as they say. (Ugh, we know.)
This morning Ben Schachter at Macquarie downgraded the stock saying that it had gone on a crazy run while nothing fundamental changed about the business. So, he labelled it “underperform.”
Maybe that was the wake-up call for investors.
Its mysterious rise is ending with a slightly less mysterious (but still mysterious) fall.