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Payne's Picks

Good Time to Buy Twitter Stock?

By Payne's PicksFOXBusiness

Twitter a takeover target?

FBN’s Charles Payne, Divine Capital CEO Dani Hughes, Fulcrum Securities Chief Strategist Rob Morgan, Tea Party News Network News Director Scottie Nell Hughes, retail analyst Hitha Herzog and Penn Financial Group founder Matt McCall debate the outlook for Twitter.

Let's add a little spice to that portfolio. Let's talk about -- Twitter (NYSE:TWTR).

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Last year, when the stock was getting absolutely annihilated, I loaded up at $30. I let it go to $50, and it's pulled back. I said to myself, if it pulls back to the point where I think it's going to make the next leg up, I want to share it with the audience.

A lot of these tech names last year saw a lot of insider selling -- 35 insider sales (a million shares). That rubs people the wrong way. But more than anything else, it feels like the CEO is a weird dude who just might be missing a gigantic opportunity, which reminds me of some of the big tech names of 1999 and 2000.

Nevertheless, I still like where they're going. I like the opportunity -- technically it's right around that 50-day moving average that Matt McCall loves to talk about. It breaks out thru $41 -- I'm looking for it to go back up to $50. I think I can put a sell ticket on this at $70.


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