stock closed at its highest price in more than two years Tuesday, adding to gains since an earnings beat last week after a Chinese rival also showed stronger-than-expected growth Tuesday morning. Twitter shares gained 8.1% to $33.44 on Tuesday, it’s highest close since mid-2015, adding to strong gains the company has experienced since showing off its first profitable quarter in an earnings report last week. Chinese social-media company Weibo Corp.
reported earnings Tuesday morning and showed off better-than-expected profit and revenue, and Weibo shares jumped 9.6% to $129.66. The social-media sector appears to be shaking off some doubts, as Snapchat parent company Snap Inc.
received big gains last week after its earnings report as well, moving higher than its IPO price for the first time in months. Weibo is partly owned by Sina Corp.
which moved 6.2% higher Tuesday after its own quarterly results, and Alibaba Group Holding Ltd.
which gained 1% Tuesday.