Twitter shares touch new high, sail past $52

Investors piled into Twitter Inc for the second straight day, lifting its shares to more than $52 and setting a new intraday high on Tuesday even in the absence of any significant announcements from the social media debutante. Shares of Twitter were up 6 percent to $52.20 on Tuesday afternoon after a frenzied trading session on Monday, when Twitter closed up nearly 10 percent, its biggest gain ever. Since the loss-making San Francisco-based firm held its closely watched initial public offering last month, its fans on Wall Street have strained to reinforce the bull case for a stock priced at increasingly inflated multiples compared to social media peers like Facebook Inc and LinkedIn Corp. Twitter has released a spate of management news and product updates since its IPO, but some announcements, such as the official roll-out of a lucrative, cookie-based ad targeting technology called “targeted audiences,” have been preceded for months by prior announcements.

    

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