Facebook, Twitter Climb to Records Amid Social-Ad Optimism
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Facebook Inc. and Twitter Inc. shares rose to records, buoyed by growing optimism that social-media advertising will grab a bigger slice of the market for digital promotions.
Facebook, owner of the world’s most popular social network, gained 4.8 percent to $57.77 at the close in New York. Twitter, the microblogging service with more than 230 million users, jumped 7.5 percent to $64.54. Facebook, which held its initial public offering in May 2012, has more than doubled this year, and Twitter has done the same since its IPO last month.