Kass gets bullish on Twitter, says price will double
Hedge-fund manager Doug Kass said he is now "manifestly bullish" on Twitter, The Wall Street Journal reported Monday.
"It is my view that Twitter's shares will likely double in the first month of trading—or maybe sooner," Kass, president of Seabreeze Partners Management, said in a statement.
Although Kass temporarily quit using the microblogging platform in June he believes it is "uniquely positioned for the mobile delivery of content and advertising." He also said the lack of competition in the space suggests a that it will likely receive "quick acceptance as an 'anointed stock.'"