Greenwood Investors LLC, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net loss of -7.7% (+11.5% YTD) was delivered by its Global Micro Fund for the third quarter of 2021, and this compares to its benchmark, the MSCI ACWI index returning -1.1% in the quarter (+11.5% YTD) for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Greenwood Investors, in its Q3 2021 investor letter, mentioned Twitter, Inc. (NYSE: TWTR) and discussed its stance on the firm. Twitter, Inc. is a San Francisco, California-based social network company with a $47.52 billion market capitalization. TWTR delivered a -12.24% return since the beginning of the year, while its 12-month returns are up by 2.35%. The stock closed at $37.99 per share on November 25, 2021.
Here is what Greenwood Investors has to say about Twitter, Inc. in its Q3 2021 investor letter:
“Being entrepreneurial, by definition, means taking the path untraveled, and heading into the unknown with daring boldness. Offense playbooks, by design, must take competition by surprise. Coming from a humble place with brands and companies that were ridiculed by competitors, when Sergio put medium-term plans out to the market, they were not timid. He would always aim higher than anyone, especially his competitors, believed he and his team could reach. And while not every target was always achieved, the formidable results speak for themselves.
This past earnings season, as Twitter was the only social media company to deliver on guidance while also confirming the quarter ahead to be at least as good, the stock sold off materially as its monetizable daily active user (MDAU) targets in the medium-term were called into question. While founder Jack Dorsey is clearly unafraid to look foolish to the public, or even in front of congress, he also manages multiple businesses at the same time. Competitors openly make fun of him. But his team is exceptionally loyal to him, and they have set out very ambitious targets for themselves over the next few years. The recent sell-off in Twitter shares was like deja vu all over again, as I reminisced about the Fiat capital markets day in 2014, fittingly on Twitter in this tweet thread. With its product and revenue servers rebuilt, it can now innovate and launch new ad formats faster than ever before. We look forward to the Twitter team pressing its offense strategy as a major peer loses focus on its core business.”
joshua-hoehne-6vw_O9R4zf4-unsplash (1)
Based on our calculations, Twitter, Inc. (NYSE: TWTR) ranks 24th in our list of the 30 Most Popular Stocks Among Hedge Funds. TWTR was in 94 hedge fund portfolios at the end of the third quarter of 2021, compared to 89 funds in the previous quarter. Twitter, Inc. (NYSE: TWTR) delivered a -25.95% return in the past 3 months.
Disclosure: None. This article is originally published at Insider Monkey.
