Jim Lebenthal Is A Buyer Of Twilio

On CNBC's "Fast Money Halftime Report," Jim Lebenthal revealed he bought the weakness in Twilio Inc TWLO. The stock is trading around 35% below its high and Lebenthal decided to invest 1% of his portfolio in Twilio.

He expects the company to outperform, but he is careful because there could be more downside. If it goes down 15% to 20% Lebenthal is going to keep legging his way in. He is not expecting significant news until the next earnings report.