Twitter Sharply Higher After Q1 Beat

Twitter IncTWTR

shares are trading higher by $1.56 at $16.22 in Wednesday's session. The catalyst for the rally is a first-quarter EPS beat of a dime along with a revenue beat of $35 million. It should be noted that the revenue figure was its lowest since Q2 2015.

What has attracted buyers into the issue is the substantial increase in average daily and monthly users. Many are attributing the increases to individuals wanting to follow its most famous user, President Donald Trump, whose Twitter user handle is @realdonaldtrump.

After a higher open, Twitter retreated only $0.09 to $15.81 before continuing its move higher. So far, the ensuing rally has taken the issue to $16.48. That marks the highest level for the issue since Feb. 22, when it reached $16.51. That high was just ahead of a pair highs from Feb. 17 ($16.63) and Feb. 21 ($16.69).

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