Twitter Inc (TWTR) inches closer towards $30 billion valuation
Yesterday Twitter Inc (NYSE:TWTR) stock started to climb and gained over 10%. Twitter is trading at over $50 today and the last time they hit that number was on the IPO day. Why is Twitter Inc (NYSE:TWTR) trading at a higher price now? Investors have become confident in Twitter because they announced new ad products, hired a new female board member, and asked the government to put limitations on surveillance, according to Forbes.
Yesterday Twitter Inc (NYSE:TWTR) closed at $49.19. Twitter announced last Thursday that they would start selling more targeted ads. The ads would utilize cookie-based ads that uses the web history of their users. Twitter would be able to show ads based on whether that users previously visited a third party website. For example, Twitter could show you a promoted hashtag saying #AmericanAirlines if you visited AmericanAirlines.com in the past.
Another move that Twitter Inc (NYSE:TWTR) made recently is naming Marjorie Scardino to their board of directors. She is the former CEO of Pearson. Twitter also partnered with Google and Facebook to issue a letter to President Obama for limits on government surveillance.
In order to hit the $30 billion market capitalization milestone, the company stock would need to hit $55.08. As of the time this was published, Twitter Inc (TWTR) was trading at $52.03.