Twitter stock has doubled in the last six months
Social media giant Twitter (TWTR) saw its stock price surge 7.3% on March 14, 2018. Its stock is now trading at a two-year high. Twitter is the best-performing social media stock in 2018, having climbed 52.4% YTD (year-to-date). The stock has doubled in the last six months. Meanwhile, Facebook (FB) and Snapchat’s parent, Snap (SNAP), have risen 4.4% and 20.2%, respectively, on a YTD basis.
Why Twitter has been surging
Twitter has seen a boost in the last few months because President Donald Trump often uses the platform to spread his messages.
According to a report by CNBC, Twitter is working on a camera-first feature, like Snapchat’s, to encourage more photos and videos. The company’s chief financial officer, Ned Segal, told CNBC in an interview that Twitter is creating a subscription product that enterprises can use to advertise on its platform.
Twitter’s great run in the stock market comes at a difficult time for social media companies. Regulators have been scrutinizing the role of social media companies—including Twitter and Facebook—in the Russian interference in the 2016 US presidential election. Social media companies have also been grappling with other woes, including fake news and extremist content, creating rifts between these companies and publishers.
However, investors have been focusing on the positives, which has led to Twitter’s exceptional run in the stock markets.