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Twitter, Inc. (TWTR) is one of the most popular, yet distinctive, social media platforms, attracting millions of users from all over the world since its inception 14 years ago. Its popularity increased significantly since the onset of the pandemic with people spending more time on social media while staying at home. TWTR’s daily active users increased 24% year-over-year in the first quarter to 166 million.
TWTR’s CEO Jack Dorsey described the reasons behind this growing viewership as, “People are turning to Twitter to stay informed, to share solutions and to ask for help and support one another, and we see it in the numbers.”
Also, with the US presidential elections round the corner, TWTR is gearing up for a busy season ahead. Its growth momentum in the upcoming months combined with several other factors have helped the stock earn a “Buy” rating in our proprietary POWR Ratings system.
Trade Grade: A
TWTR is currently trading above its 50-day and 200-day moving averages of $41.2 and $34.2, respectively, indicating that the stock is in an uptrend. In fact, the stock’s 39% return over the past three months reflects a solid short-term bullishness.
For the second quarter ended June 2020, TWTR’s Monetizable Daily Active Usage ( …
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