Is Twitter Stock a Buy Today?
It has been a troubled year so far for social media titan Twitter (NYSE: TWTR). The company is in the middle of a theatrical lawsuit with Tesla CEO Elon Musk, who agreed to buy the social media company for $54.20 per share in April. The famed entrepreneur has since tried to withdraw from the deal over concerns that Twitter withheld important information regarding spam accounts. As of this writing, the stock trades at roughly $40 per share and is down about 10% year to date.
Macroeconomic conditions aren't exactly ideal for the social media leader, either. Due to high inflation and the Federal Reserve's commitment to interest rate hikes, companies are cutting advertising budgets and this is having an adverse effect on ad-driven businesses like Twitter, which generates the bulk of its revenue via digital advertising.
Should investors pounce on Twitter stock today? Let's take a look.
Source Fool.com
