Twitter Shares Top $50, a New High
Profit in social media sarcasm
Shares of Twitter Inc. are back at record levels.
Twitter jumped as much as 7% on Tuesday, climbing back above $50 and setting a new record. The latest rally comes in the face of the skeptical chirping from some of the Wall Street firms that took the company public.
Last week, analysts from two of the five firms that served as lead underwriters for the microblogging site's IPO came out with "hold" ratings on the stock. Another one recommended investors sell Twitter shares amid valuation concerns. And yet despite those lukewarm projections, shares are still up more than 25% this month.