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Is Twitter (TWTR) a Good Long Term Investment?

Greenlight Capital, an investment management company, released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, Greenlight Capital funds returned 4.0% net of fees and expenses compared to a 4.9% decline for the S&P 500 index. For the nine months ended September 2022, the fund delivered a 17.7% return net of fees and expenses compared to a 23.9% decline for the S&P 500 index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Greenlight Capital discussed stocks like Twitter, Inc. (NYSE:TWTR) in its Q3 2022 investor letter. Headquartered in San Francisco, California, Twitter, Inc. (NYSE:TWTR) is a public self-expression platform. On October 20, 2022, Twitter, Inc. (NYSE:TWTR) stock closed at $52.44 per share. One-month return of Twitter, Inc. (NYSE:TWTR) was 16.07% and its shares lost 19.75% of their value over the last 52 weeks. Twitter, Inc. (NYSE:TWTR) has a market capitalization of $40.129 billion.

Greenlight Capital made the following comment about Twitter, Inc. (NYSE:TWTR) in its Q3 2022 investor letter:

"We wrote about Twitter, Inc. (NYSE:TWTR) in our last letter even though we purchased it in the third quarter. It appreciated to $43.84 per share at quarter end. This still represents a sizable discount to the stated deal price of $54.20. We have been following this case closely and we believe that it is going well for TWTR. We expect that one way or another, the deal will close at or near the originally agreed upon price."

Anthony Correia / Shutterstock.com

Twitter, Inc. (NYSE:TWTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held Twitter, Inc. (NYSE:TWTR)  at the end of the second quarter, which was 68 in the previous quarter. We discussed Twitter, Inc. (NYSE:TWTR) in another article and shared Aristotle Capital's views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.