Twitter slips as analysts lose faith

Twitter shares yesterday slipped after analysts at two firms downgraded the stock, citing a lack of confidence in the company’s direction and ability to capitalise on new products.

“What is Twitter? Quite frankly, we don’t believe that question has been answered,” James Cakmak, an analyst at New York-based equity research firm Monness, Crespi, Hardt said.

“Barring any changes, Twitter was, is and will continue as a niche product.”