FX.co ★ Twitter shares hit fresh record

Throughout longstanding history, exchange markets around the world have seen plenty of impressive take-offs and dramatic plunges. It seems that nothing can astonish people working on an exchange floor. However, there are people who are always eager to record yet another success or failure. This time Twitter appeared in the focus of attention. This year, the company held the initial public offering on exchange. So, stocks of this popular social networking service hit a fresh high. Twitter Inc lifted its shares to record high $52.59 apiece; moreover, analysts expect the rising trend to go on. Nowadays, it has been the biggest ever gain in Twitter’s shares value. Market participants explain such an upswing by a communique released by the microblogging service’s management the day before. Besides, on December 9, the website developers presented a spate of management news and product updates which primarily concerned cookie-based ad targeting technology as commercial videos and materials are the main source of the company’s proceeds. According to the presentation, from now on commercials for users will be picked up considering records of visiting webpages saved by a browser. The market responded to such changes with a price hike of the company’s shares. It should be reminded that the social networking service Twitter set up its business in 2006. Twitter went public on the New York Stock Exchange on November 7, 2013 when its IPO price was $26 apiece. But as soon the trading session opened, the shares’ value started to rocket and reached $45.1.