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Twitter IPO estimates are missing one thing: Pro

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Twitter IPO estimates are missing one thing: Pro

The impact of commerce hasn't been adequately factored into estimates of what Twitter might be worth, Ritholtz Wealth Management CEO Josh Brown said Monday.

"There is another part of this story that no one's talking about, which is commerce," he said. "If and when they choose to go down that road, forget it. All bets are off. Forget about the data they could sell and the in-line ads. That's a whole other leg to the story that's not in anyone's estimates."

Twitter plans to price its shares between $17 and $20 in its initial public offering next month.

On CNBC's "Fast Money," Brown said that he was planning to buy Twitter stock on its debut.