One of Wall Street's biggest banks just revealed a massive stake in Twitter - and the company's stock is soaring
- Morgan Stanley said in a filing on Wednesday that it had a 5.6% stake in Twitter, which boosted shares of the social media company.
- Twitter's stock has climbed 11% so far this year, although it's still trading 34% below its 52-week high hit last June.
- Follow Twitter's stock price here on Markets Insider.
The move on Wednesday extended the rally in Twitter shares so far this year, which has amounted to an 11% gain year-to-date. Still, shares have fallen 34% from their 52-week high hit last June.
Last week, the stock took a hit after the company reported quarterly earnings. Though Twitter reported revenue and profits that topped analyst expectations, it said monthly active users fell by 9 million to 321 million.Read more: Twitter is sliding despite beating Wall Street expectations
The Jack Dorsey-led social giant also revealed its total daily active users for the first time: 126 million.More broadly, the majority of Wall Street analysts who cover Twitter are neutral on the name. While nearly 54% of analysts surveyed by Bloomberg carry a "hold" rating, nearly 31% recommend buying the stock, and 15% recommend investors sell.Now read:Advertisement
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