For the last couple of weeks, Twitter (NYSE:$TWTR) has been posting gains like no other. However, all of that came to an end on Friday. The San Francisco-based company closed higher for 12 straight trading sessions, but investors can now consider the 12-day winning streak to be over.
The social media company reclaimed $20 a share on July 20th for the first time in 2017. Twitter’s shares have rallied 37.83% over the course of the past three months.
So what caused the 12-day winning streak? Well, most of the gains have come from the changes Twitter has been making to its platform, such as updating the layout of its web and mobile interfaces. Important changes include the following: filtering options, moving from square to circle profile pictures, and showing live updating retweets and like counts on Tweets. In addition, Twitter is strengthening its executive team; for instance, the company recently hired Ned Segal from Intuit to be its CFO.
In a recent interview, Steve Ballmer has saluted these changes as positive moves for the company. The former CEO of Microsoft and major investor in Twitter called the company a “good asset.”
Featured Image: Depositphotos/© PiXXart
