I woke up this morning at 5 am eastern to get a run in before my flight back from Toronto. It was snowing.
By 1-45 I was on the course with Max and my nephew Eli golfing in Phoenix. It was chilly, but NOT snowing. I am glad I took the early flight because I had my first eagle in a long time. Max had 5 birdies, a back side 33 (71 total). It was fun to watch him as we have not played together in months.
Now to the title of the post…
This week was a wild one in the markets.
The Nasdaq snuck past 7,000 quietly as the media focused on Bitcoin.
The Nasdaq is now the underdog it seems…the poor man’s Bitcoin.
One forgotten stock of the Nasdaq that has had a pretty good run of late is Twitter.
This week Elon Musk said he ‘loved Twitter’. On Twitter of course. I’m with Elon.
Twitter has come a long way from #RIP Twitter. Back in February 2016, it seemed obvious, and I blogged it,that #RIPTwitter could be the bottom. At the end of the post I wrote:
I hope this downturn makes Twitter a nicer corporation because I am confident there is a huge, profitable, 100 year business on the other side of this crash.
Last month, in my monthly ‘Peloton‘ newsletter I went on record with subscribers to buy. The stock is up 20 percent in a short period of time.
I won’t get into all the reasons I thought there was big upside, but the crypto craze is a boon for Twitter. I know this because I see the data on Stocktwits that Ian, the CEO, shares with me.
I don’t think I have used 280 character Twitter but the data says everyone loves it.
I still think the Company is off strategically in their revenue focus, but everything bad that could be done to the Company seemed to be done and priced in after #RIPTwitter.
Merry Christmas everyone.
Also published on Medium.