Kevin Landis, chief investment officer, Firsthand Funds.(Photo: Robert Deutsch, USA TODAY)Story HighlightsGazing out at the landscape for tech stocksSees biggest promise in Twitter after it goes publicFacebook is having to reinvent itself
A little more than a year has passed since social-media darling Facebook’s badly botched initial public offering gave Wall Street another black eye. Shares, which were issued at $38 on May 18, 2012, are now trading around $23, or about one-third less than the offering price.
Twitter, the newest social-media sensation best-known for its 140-character messages to the Twitter-verse, is expected to go public at some point in the near future, prompting USA TODAY markets reporter Matt Krantz to ask, should you buy it?
Kevin Landis, chief investment officer at Firsthand Funds, a tech investor and Silicon Valley insider, already has an $18 million stake in Twitter. He says Twitter is likely to be a better investment than Facebook, since Twitter’s business was basically born on mobile devices. Facebook, by contrast, was not only hurt by its embarrassing IPO, but it is also undergoing the difficult challenge of reinventing itself by de-emphasizing its desktop delivery method in favor of a service that users access mainly via mobile devices.
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