Today’s Research Reports on Stocks to Watch: Twitter and Snap
Many have taken to Twitter this week to tweet about the allegations that have surfaced this week over Harvey Weinstein, a notable studio executive in Hollywood. He has been accused of sexual harassment and even rape by Rose McGowan on the social media site. Shares of Snap continued to gain on Thursday for a second day, seeing gains the stock hasn’t seen since its IPO back in March.
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Twitter, Inc. shares closed up 4.06% yesterday with nearly 31 million shares traded. It’s been an interesting week for Twitter in regards to the Harvey Weinstein story that has surfaced about him sexually harassing women in Hollywood. According to CNBC’s Julia Boorstin, there has been call for a boycott of Twitter after actress Rose McGowan was temporarily suspended from the site. She had recently been tweeting about the shocking allegations about Weinstein and had called out Ben Affleck as well for knowing all about it. McGowan was able to tweet again on Thursday and wrote a simple tweet that read, "HW raped me." It was last year that McGowan had said a studio head had raped her. A representative for Weinstein said that "Any allegations of non-consensual sex are unequivocally denied by Mr. Weinstein."
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Snap Inc. shares closed up 3.57% on Thursday with around 63 million shares traded. It was another day of gains for the stock after it broke out on Wednesday and saw its highest levels since its IPO debut this past spring. These last two days have been the biggest two days of gains since its market debut in March. So why the big gains this week? It was on Wednesday that Swiss bank Credit Suisse analyst Stephen Ju raised his price target on the stock from $17 to $20. Piper Jaffray also put out a bullish note on the stock on Wednesday with a price target of $12.50. The company revealed yesterday that it will discuss third quarter 2017 financial results on Tuesday, November 7, 2017 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
Access RDI’s Snap Inc. Research Report at:
Our Actionable Research on Twitter, Inc. (NYSE: TWTR) and Snap Inc. (NYSE: SNAP) be downloaded free of charge at Research Driven Investing.
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