Twitter closes sharply higher in absence of major news

|By:, SA News Editor

Though no major news or sell-side calls arrived today to give shares a boost, Twitter (TWTR +9.5%) managed to soar nearly to its post-IPO high of $50.09 (achieved on its first day of trading). 16.7M shares changed hands.

Twitter did announce a deal with Swiss software firm Myriad that will allow its services to reach mobile users lacking Internet connections, courtesy of a text transmission technology known as USSD. Users won't need to log into Twitter, or even have an account.

With Myriad having partnerships with ~45 carriers worldwide (the company is looking to add 40 more), the deal could strengthen Twitter's international reach. CEO Dick Costolo recently stated he wants Twitter, which ended Q3 with 231.7M MAUs and is dealing with concerns its service is too specialized to have a Facebook-sized base, to eventually have 1B MAUs, and to become easier for new users to figure out.

Also: Social media analytics firm Gigya estimates Twitter had a 30% share of social media referral traffic in Q3, up from 24% in Q2. Facebook still leads with a 41% share.