Twitter Inc (NASDAQ: TWTR)
On Thursday before the market opened, Twitter announced fourth quarter earnings that beat analyst expectations and sent shares soaring in the premarket.
The social media company announced adjusted Q4 earnings to the tune of $19 cents per share on $731.6 million in revenues while analyst were looking for $14 cents on $717.2 million in revenues. This was a strong beat and a breath of fresh air for long time investors.
This great news will likely bring in new investors and a lot of speculative traders looking to take advantage of a surge up in prices. Expect heavy volume and a lot of volatility.
As you can see in the 5-minute chart above, shares of $TWTR shot up on solid volume following their earnings announcement. At current prices, $TWTR is looking to open up just over 23% from Wednesday’s close. Prices haven’t traded at these levels since the beginning of 2016.
Some important levels we will want to watch is the $32 pivot in the premarket followed up by $30 and $27. We should see some resistance at $35 and $40 if prices push that high.
I would imagine this will spark a lot of traders interest so make sure to keep this one on your radar today.
“Q4 was a strong finish to the year,” said Jack Dorsey, Twitter CEO. “We returned to revenue growth, achieved our goal of GAAP profitability, increased our shipping cadence, and reached five consecutive quarters of double digit DAU growth. I’m proud of the steady progress we made in 2017, and confident in our path ahead.”
Twitter, Inc. is a global platform for public self-expression and conversation in real time. It provides a network that connects users to people, information, ideas, opinions, and news.
The company’s services include live commentary, live connections and live conversations. Its application provides social networking services and micro-blogging services through mobile devices and the Internet.
The company can also be used as a marketing tool for businesses. Twitter was founded by Jack Dorsey, Christopher Isaac Stone, Noah E. Glass, Jeremy LaTrasse, and Evan Williams on March 21, 2006 and is headquartered in San Francisco, CA. –MarketWatch