04Apr3:48 pmEST
Twitter and Elon Musk: No Regrets on My Part Whatsoever
Headed into the closing bell, I think it is now safe to say that the Elon Musk stake news in Twitter certainly helped spark a further rally in most growth stocks on the day as sentiment understandably felt cheerful amid the 28% pop in shares of TWTR.
Overall, though, my long-term thesis on growth stocks, stated many times here and with Members dating back to 2021, remains intact--I believe they have topped out on a secular basis, and thus rallies are opportunities to sell and look to get short (the former easier than the latter, of course).
I personally sold the balance of my long-term investment in TWTR last summer with VIP Members, a position I held since 2017 when I held my nose and went long with shares in the teens.
Even with this enormous Musk-related pop, TWTR is likely to have a hard time getting back above the mid-$50s, in my view, at least for any period of time. The monthly chart, below, illustrates the lurking overhead supply.
While I am sure Musk will throw his weight around to improve the platform, I do not this news supersedes the larger secular theme of growth having topped and value on the come.
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