- The Twitter (TWTR) rocket ship takes a pause in premarket trade, off 2.8% amid a downgrade to Sell from Macquarie's Ben Schachter.
- "We expect this to be among the shortest downgrade note you’ve ever read, as nothing fundamentally has changed since our Neutral initiation on Dec. 11, except that shares have risen 40% ... [Twitter] has a bright future and many opportunities ahead. However, as a stock, we believe nothing has changed over the last 15 days to justify the rise in valuation."
- He maintains his $46 price target.
Twitter cut to Sell at Macquarie; off 2.8% premarket
Dec 27 2013, 08:20 ET