December is the month of Twitter. The social media giant has implemented many changes and rolled out several updates on all its platforms. Seems like the efforts are paying off as Twitter stock touched $70 mark on December 24, 2013.
On December 24, Twitter stock peaked at $70.79 before closing at $69.96 registering a growth of 8.4%. This jump is not an isolated event. Twitter stock has surged 169% since its IPO at $26 on November 6. The current market capitalization of Twitter is more than $38 billion registering a growth of nearly 60% since its IPO on November 7.
Twitter has done a lot this year to deserve this feat. Its sales in digital advertising has been the key to success for quite some time now. The company has rolled out several updates on all its platforms including revenue boosting updates such as promoted accounts and broad search for Twitter ads. Introducing new features on its mobile app and desktop version has also helped Twitter in growing its user-base.
Blake Harper, an analyst at Wunderlich Securities Inc. in Baltimore says, “While the company is growing revenues faster than its fastest-growing peers and we do recognize the potential for the company to capture larger portions of the mobile and TV advertising market, it appears valuation metrics are irrelevant and that investors are betting aggressively on Twitter being the next great media-technology platform.”
Twitter is performing beyond expectations and is showing great potential. However, we will only be able to get actual figures when Twitter will file the results of its first quarter since IPO.
via SocialAppsHQ Blog http://www.socialappshq.com/blog/2013/12/26/twitter-share-cross-70-mark/
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