UPDATE: Twitter (TWTR) Sell-Off Continues; Shares Down 10%+
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(Updated - December 27, 2013 3:38 PM EST)
Twitter (NYSE: TWTR) is down about one BlackBerry (Nasdaq: BBRY) on Friday afternoon as the social media giant has seen a bit of a exodus.
Notably, short interest on the name ran 33.3 percent higher to 23.67 million shares from the start through the middle of the month, or about 9.8 percent of public float.
Money flow on the name is negative $31.2 million in the afternoon session for uptick-to-downtick ratio at 0.96 times, so not too much selling pressure amid the dip.
Earlier, Macquarie cut its rating on Twitter to Uniderperform, suggesting shares rose too far, too fast.
The 10 percent drop in Twitter was worth roughly about $4 billion, similar to BlackBerry's market cap.
Twitter (NYSE: TWTR) is down about one BlackBerry (Nasdaq: BBRY) on Friday afternoon as the social media giant has seen a bit of a exodus.
Notably, short interest on the name ran 33.3 percent higher to 23.67 million shares from the start through the middle of the month, or about 9.8 percent of public float.
Money flow on the name is negative $31.2 million in the afternoon session for uptick-to-downtick ratio at 0.96 times, so not too much selling pressure amid the dip.
Earlier, Macquarie cut its rating on Twitter to Uniderperform, suggesting shares rose too far, too fast.
The 10 percent drop in Twitter was worth roughly about $4 billion, similar to BlackBerry's market cap.
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