Twitter is too much drama, board members are not aligned with shareholders: Dan Niles
Twitter stock hasn’t performed for 8 years: Dan Niles
Satori Fund founder and portfolio manager analyzes the social media giant’s ‘poison pill’ strategy on ‘The Claman Countdown.’
Satori Fund founder and portfolio manager Dan Niles told "The Claman Countdown" on Monday why he unloaded Twitter stock and moved to better investment options.
DAN NILES: It was too much drama for me. If you look at Twitter from a very big picture standpoint. The day they came public the stock closed at $45 a share. It's not much different today. In the meantime, you look at the S&P 500 it's tripled. You look at Facebook and Google during that same period they've gone up four to five X. The stock [Twitter] still trades at a 60 PE, it's up 50% off its lows a few weeks ago before Musk started buying. At the end of the day, the board, I do think, their interests are not aligned with shareholders. So it was too much drama for me, and I've got other names that are much lower valuations that I'd rather be involved with.
WATCH FULL INTERVIEW HERE:
Dan Niles: Twitter is too much drama for me
Satori Fund founder and portfolio manager reacts to the freakout over Elon Musk’s bid for Twitter on ‘The Claman Countdown.’
Source: Read Full Article