, Columnist
Wall Street Is More Sane Than Twitter Stock Traders
Absent a sale, the stock may be worth a lot less than where it is now. Just watch analysts' price targets.
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The stock market has been in crazed overreaction mode over a potential sale of Twitter. And for once, Wall Street stock analysts have been the voices of reason.
In the less than two weeks since CNBC reported Twitter was taking a hard look at a sale, its shares have gone up or down by at least 5 percent on three occasions, or 30 percent of days the stock market was open. Such big Twitter gyrations had happened just 11 percent of trading days over the past two years.