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Author
The Associated Press
Date
December 10, 2013

Twitter flies higher on heels of new ad program

Twitter’s stock flew to a new high Tuesday and shares are up 26 percent this week after the social media site rolled out a new targeted advertising program.

The company announced in a blog Thursday that its “tailored audiences” platform will let advertisers focus on a specific group of people and target ads to them on Twitter. For example, a business can choose to focus on recent visitors to its website. Those website visitors that have a Twitter account could them be matched with a related promoted tweet.

Twitter said it tested the program for several months and is now making it available worldwide.

The announcement of the new ad platform is just the latest item for investors to feast on. Earlier this month Apple bought Topsy Labs in a deal that will provide the iPhone maker with more insights about the chatter on Twitter. Financial terms were not disclosed.

Since going public on Nov. 7, Twitter’s stock is up 9 percent. On Tuesday the stock gained $3.14, or 6.4 percent, to $52.28 in afternoon trading. The shares rose to a fresh new high of $52.58 earlier.

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