(Finance) – The stock moves down Twitter which exhibits a deadweight loss of 4.68% on previous values after US entrepreneur Elon Musk is planning to drastically cut the social network’s workforce in the coming months. According to the Washington Post, the owner of Tesla has told potential investors that the acquisition agreement also includes a cut of 75% of the overall 7,500 workers.
The trend of company that provides a news and microblogging service in the week, compared toS & P-500notes a lower relative strength of the stock, which could fall prey to sellers ready to take advantage of potential weaknesses.
At present the short-term scenario of Twitter notes a sharp rise with a target identified at USD 50.64. In the event of a momentary physiological correction, the most immediate target is seen at 49.44. However, expectations are for a rise in the curve to the top 51.84.