Twitter Stock Gains ‘Too Far, Too Fast,’ Says Research Firm

Twitter stock hit a record high earlier this month, and since then, has went up over $15. However, according to research firm Macquarie Research Equities, it’s “too far, too fast.”

From the Los Angeles Times:

“We continue to believe that Twitter as a company has a bright future and many opportunities ahead. However, as a stock, we believe nothing has changed over the last 15 days to justify the rise in valuation.”

Last week, Twitter announced it was expanding Promoted Accounts on mobile, which helped fuel the recent stock price gains.

Since analysts shared their concerns, Twitter stock is currently down nearly eight percent to below $68.