Doug Kass Tweeted About A Gnome And Twitter Spiked

"My Little Gnome" is today's market-moving force in Twitter-world.
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The long thesis on Twitter has vanished to basically a single depressing little glimmer, which is the hope that someone out there with a few billion to spare and an excess of magnanimity will put Twitter investors out of their misery with an otherwise ill-advised takeover. The salience of that viewpoint was highlighted Tuesday when investor and long-recovering hippie Doug Kass tweeted about a gnome whispering “activism talk” and the stock took off.

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Kass’s “My Little Gnome” apparently does not refer to a prospective children's entertainment franchise but a person with some relatively privileged info. Kass is long Twitter (and has been for a while) but is basically resigned to the fact that a takeover is basically all the company has going for it. Thus his willingness to buy the little bird based on what another little bird told him:

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Of course there's nothing uncommon about a stock getting jolted by credible rumors. But when it comes to Twitter, the bar for “credible rumor” evidently isn't too hard to clear.

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