Twitter shares hit record high

Twitter shares hit record high

Twitter shares rose for the second straight day yesterday, passing US$52 and reaching a new intraday high.

HumanIPO reported yesterday Twitter shares increased by 9.2 per cent on Monday to reach the highest level since its initial public offering (IPO), following a number of product announcements.

Though there were no new announcements yesterday, shares rose by six per cent to US$52.20, beating its previous intraday high of US$50.09, set on the day of the IPO.

HumanIPO reported last week Twitter had linked up with Singapore-based startup U2opia Mobile to make its service available to users in emerging markets on phones without internet access through a text-only version.

Twitter said in September it would begin introducing and removing more features, sometimes on a daily basis.

HumanIPO reported last month Twitter had launched a media website dedicated to best practices on the social networking site, seeking to allow government, news websites and non-profits among others how to increase their impact through Twitter.

The company, however, gave up on its experiment to allow one user to direct message another even if they are not following each other after a restricted pilot.

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