Twitter has been consistently posting gains for the last couple of weeks, but that may come to an end on Friday.
The social media company has closed higher 12 days in a row, but is trading down 1.61% in early action on Friday. Twitter reclaimed $US20 a share on Thursday for the first time this year.
Its shares have rallied 37.83% over the past three months.
The gains have come as the company been making various changes to its platform, updating the design of its web and mobile interfaces. Notable changes include the move from square to circle profile pictures and showing live updating retweet and like counts on Tweets.
The company is also beefing up its executive team, recently hiring Ned Segal from Intuit to be its chief financial officer. Anthony Noto was pulling double duty as CFO and COO and will return to his single role as COO after Segal officially joins.
Steve Ballmer hailed these changes as good moves for the company in a recent interview. The former Microsoft CEO and major investor in the service called Twitter a “good asset.”
Tech companies are mostly red early on Friday. The FAANG stocks are all lower except for Netflix, which is trading up 0.20% as it continues to see momentum from Monday’s earning results. The tech-heavy Nasdaq 100 is down 0.17% to 5897 points.
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