TWTR) for three reasons when it was $50. It has since rallied more than 40%. But nothing lasts forever and in early trading today the stock was down 5% thanks to word that analysts slapped it with an underperform rating.
So why did it rocket so high so fast and why is it now coming back to Earth?
the fundamental story is still an exciting one and Twitter will have an
opportunity to create all kinds of value few yet foresee. For instance,
with a constantly improving ability to crunch its massive real time
data set, Twitter may have an opportunity to monetize search, which
would be huge. I can imagine Twitter placing relevant geolocated ads
next to its users’ searches for auctioned keywords similar to Google’s
approach to traditional search. (more)
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50-year veteran Art Cashin warned King World News about the West’s
disappearing gold hoard. Cashin, who is Director of Floor Operations at
UBS ($650 billion under management), also discussed what surprises him
the most regarding the West’s loss of gold.
Eric King: “Art, I wanted to discuss a Bloomberg story where they
talked about gold literally disappearing from the vaults in London. An
individual interviewed in that piece said the vaults were full two years
ago, and now they are virtually empty. This transfer of gold from the
West to the East, does it worry you, Art?”
Cashin: “It is concerning … China has stepped up to be a pretty big
buyer of gold. So we will keep an eye on where these transfers go.
These people (in the East) are concerned about their own currencies and
the ability of their own governments to control things. They look for
the safety of gold, something hard that has stood them well (in terms of
wealth preservation) over the decades.”
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