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Twitter stock slumps 50 percent as Goldman, Deutsche Bank still say `buy’

02
May
2014

Twitter Inc investors who heeded the advice of high-profile banks such as Goldman Sachs Group Inc and Deutsche Bank AG to buy the social media companys shares might be kicking themselves. Much more accurate calls were made by Wells Fargo, Atlantic Equities and Macquarie Research, whose analysts advised clients to get out of the high-flying stock about the time it peaked in December. On Wednesday the stock fell as low as $37.24, 50 percent below its peak of $74.73 the day after Christmas, wiping almost $18 billion off Twitters market capitalization. The downgrades, and the subsequent swoon by the stock, reflect concern about slowing growth in Twitters user base and the companys ability to reverse the trend.

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