Stifel Analyst Turns Bearish on $TWTR, After Losing Nearly 50% Since His Last Upgrade

Scott Dewitt, from the crime ridden city where Stifel resides, St. Louis, is very mad at Twitter this morning and has reengaged his negative feelings for the company by downgrading its shares with a $14 target.

The amusing thing about his downgrade is the nonsensical nature of it all. He said he was positive on the name, after being negative, for the past three months–hoping things would turn around. In layman’s terms, he was basing his new found bullishness on Jack Dorsey, which is a pretty flaccid reason to switch from bear to bull, frankly.

Here are his retarded comments.

“We are returning our rating on Twitter shares back to where it should have been all along — Sell.”

“Twitter is a product that has never fully developed into a sustainable public company due to either poor strategy, poor execution, or that it was never destined to be one.”

“Groupon and Zynga were notable Internet companies that quickly rose to prominence followed by a rapid decline in their share prices,” he wrote. “Although these companies are not at Twitter’s scale, both still have ~50mm ‘users’ and once had many more.”

“We took a respite from the negativity for a brief period in the past three months based on the belief that if the product strategy were going to show signs of improvement we might see the stock respond,” he wrote.

“Well the stock sure responded (negatively!) and the product still resembles its former self while the individual in charge of the product as recently as two weeks ago now resides at Instagram.”

So let me get this straight. It took Mr. Dewitt 3 months of wanton fuckery in Twitter’s share price underperformance, in which the stock fell almost 50%, to downgrade the stock to sell?

Great job helping investors navigate the murky waters of social media, fucked face.