Market Overview

Rumor Mill Instigates Yet Another Rally In Twitter

Related TWTR
How The SEC's Enforcement Division Is Responding To Cybersecurity Challenges
Why So Many Websites Were Down On Friday Morning
Fixing Twitter (Seeking Alpha)

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Twitter Inc (NYSE: TWTR) shares were trading higher by $1.58 (5 percent) at $35.79 in Tuesday's session. Unconfirmed market chatter involving the issue is buoying its share price.

Had the chatter not swept the Street, the issue may have been heading to test its 52-week low ($33.51) as it reached $34.15 in Monday's session before rallying to close at $34.21.

After a higher open ($34.50 vs. Monday's close of $34.21), it dipped $0.06 to $34.44 before mounting a rally.

So far, it has reached $35.94 and has backed off slightly from that level. The current high is just shy of the trio of highs from June 19-23 between $36 and $36.28.

Twitter has not closed over $36 since June 8, when it ended the session at $36.46.

Editor's note: At time of publication, shares were trading at $36.00, up $1.79.

Posted-In: Premarket outlookRumors Technicals Intraday Update Movers Trading Ideas


Related Articles (TWTR)

View Comments and Join the Discussion!