Twitter Falls After Analysts Downgrade Stock on Slow Growth View
- Acquisition seen inevitable though not likely anytime soon
- Twitter announces deal with CBS News for 2016 conventions
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Twitter Inc. slipped after analysts at two firms downgraded the stock, citing a lack of confidence in the company’s direction and ability to capitalize on new products.
"What is Twitter? Quite frankly, we don’t believe that question has been answered," said James Cakmak, an analyst at Monness, Crespi, Hardt & Co. in a note. "Barring any changes, Twitter was, is and will continue as a niche product." He downgraded the stock to the equivalent of hold from buy.