Twitter retakes $20 for the first time this year
Twitter has been on a slow march upward, and just retook $20 for the first time this year.
The social network rose 0.25% on Wednesday and is trading at $20.03. It's the first time the company has traded above $20 since October of last year. Twitter shares have posted a gain in nine of the last ten sessions amid a lack of any market-moving news. Recently:
Ned Segal was named the company's chief financial officer, relieving Anthony Noto from his dual role as CFO and chief operating officer. Noto will stay on as COO.
Steve Ballmer, a major investor in the company and former CEO of Microsoft, recently called Twitter a "good asset" in a CNBC interview. Ballmer talked about the various moves Twitter is making in its design in order to better address its declared focus on everything "live."
The company released a redesign of its web and mobile app interfaces last month, which received mixed results from users.
Twitter also made headlines when a group of its users filed a lawsuit claiming President Trump was violating their First Amendment rights by blocking them on Twitter's platform. The suit is ongoing.
Twitter is up 21.78% this year. It priced its IPO at $26 a share in 2013 and is still trading below that level.
Click here to watch Twitter's shares move in real time...
(Markets Insider)
NOW WATCH: Wells Fargo Funds equity chief: Companies were being rendered obsolete long before Amazon emerged
More From Business Insider
