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Tuesday, 10 December 2013 12:23

Twitter shares surge

Written by Nick Farrell

Shareholders hope for new products

Twitter shares soared more than nine percent since the company's initial public offering after a spate of product announcements.

Shares rose to $49 in mid-day trading, up 9.2 percent. Twitter has mostly traded in the low-$40 range in recent weeks. One of the things that shareholders are worried about is the companies chance of making serious money so they are sensitive to news that it might have a plan to do that.

Twitter on Thursday officially began allowing marketers to show individually-tailored ads on Twitter, based on websites the user has previously visited. The cookie-based targeted ads, as they are known, are expected to fetch higher ad prices. The company also said it would launch a text-only version of the service that would be available to people with entry-level mobile phones that cannot access the Internet.

Not much, but shareholders see it as a start.

Nick Farrell

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