Notorious Short Seller Andrew Left Likes Twitter's Fundamentals, Buyout Potential

Notorious short seller Andrew Left is taking a break from naysaying on Friday and going long for a change. In an interview with CNBC, Citron Research’s Left explained why he believes Twitter Inc TWTR stock is headed to $35.

"You can see the engagement levels on Twitter and the relevancy its playing in our society can't be denied," Left said on CNBC. "They dominate that space of social media." Ironically, Left had disclosed his bullish take earlier in the day on Twitter.

Citron receives many emails about we might buying in this market. Have been long $TWTR and agree with Hedgeye and Greenlight that 2018 is the year for $TWTR target $35 Think Tencent buys....now go bash Citron on $TWTR

— Citron Research (@CitronResearch) January 26, 2018
 

Left’s new position in Twitter sent shares of the social media giant soaring more than 8 percent to above $23, but Left said there is plenty of room for upside. He said he opened his position in the high teens. Left said he like’s Twitter’s fundamentals and thinks the company is a better takeout target than Snap Inc SNAP for a Chinese company such as Tencent to potentially take a huge position in the U.S. social media market.

“If I’m Tencent or any Chinese company… and I said where can I get a foothold in social media, it’s this or Snapchat, and I think Twitter is a much better platform,” Left said.

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