Shares of Twitter gained nearly 3.5% in late-morning trading hours Tuesday after billionaire investor Mark Cuban said that he started buying the social media platform’s stock as an artificial intelligence play.
In an interview on CNBC’s “Squawk Alley,” Cuban said he has been investing in companies that work in artificial intelligence, deep learning, and machine learning. The “Shark Tank” star said he started buying Twitter because “they finally got their act together” with AI.
The news comes just a day after Twitter saw a nice pop thanks to a massive insider buy from CEO Jack Dorsey. Last Friday afternoon, Dorsey tweeted that he purchased $9.5 million worth of Twitter stock (also read: Here's Why Twitter Stock Soared, May 1).
Monday’s move was also inspired by Twitter’s new partnership with Bloomberg. The micro-blogging site will be joining forces with the financial news outlet to provide 24/7 exclusive content. Twitter will start live-streaming Bloomberg-backed content this fall.
Shares of TWTR are now up more than 25% since the company reported better-than-expected first-quarter earnings and revenue figures last week. Twitter significantly outpaced estimates, adding about 9 million monthly active users in the quarter.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
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Shares of Twitter gained nearly 3.5% in late-morning trading hours Tuesday after billionaire investor Mark Cuban said that he started buying the social media platform’s stock as an artificial intelligence play.
In an interview on CNBC’s “Squawk Alley,” Cuban said he has been investing in companies that work in artificial intelligence, deep learning, and machine learning. The “Shark Tank” star said he started buying Twitter because “they finally got their act together” with AI.
The news comes just a day after Twitter saw a nice pop thanks to a massive insider buy from CEO Jack Dorsey. Last Friday afternoon, Dorsey tweeted that he purchased $9.5 million worth of Twitter stock (also read: Here's Why Twitter Stock Soared, May 1).
Monday’s move was also inspired by Twitter’s new partnership with Bloomberg. The micro-blogging site will be joining forces with the financial news outlet to provide 24/7 exclusive content. Twitter will start live-streaming Bloomberg-backed content this fall.
Shares of TWTR are now up more than 25% since the company reported better-than-expected first-quarter earnings and revenue figures last week. Twitter significantly outpaced estimates, adding about 9 million monthly active users in the quarter.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 "Strong Sells." Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>