A Lot of Losers

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I’ve never traded a share of Twitter in my life, but I have one simple point to make: the vast majority of trading volume has already occurred at prices which put owners of the company into a loss. Take a good look at the substantial volume as TWTR was trading between current prices and $75: those are a lot of people who are very unhappy with their position and would really like to get out. That is a massive amount of overhead supply that’s going to act as a brick wall to higher prices.