Twitter (TWTR) investors received an extra stocking stuffer on Thursday, as the stock was up more than 6% in midday trading. Twitter stock touched record highs for the third straight trading day and for the eighth day in the past 12 trading days. The San Francisco-based social network’s stock touched a new high of 74.73 before noon ET in the stock market today on double its average daily volume. The stock, which hit the market on Nov. 7, is up 90%
Google (GOOG), Yahoo (YHOO), Facebook (FB), Twitter (TWTR) and others that depend on online ads are facing a sea change in the business. The growth in ad spending on mobile devices, on a percentage basis, is fast outpacing ad spending on computers, which is slowing faster than analysts had expected, according to a report released Monday. By year’s end, spending on mobile ads in the U.S. will reach $9.6 billion, up 120% from $4.36 billion in 2012.
Twitter (TWTR) got a price target hike from RBC Capital Markets Friday, sending shares up nearly 4% on the stock market today to an all-time high for the fourth straight session. RBC and Ad Age conducted a survey of advertising industry professionals, and the results look good for Twitter, analyst Mark Mahaney wrote in a research report. Some 59% of respondents said they plan to increase spending with Twitter over the next 12 months vs. only 4%