Eranet News On December 25,Stocks continued to slowly add to gains Monday afternoon. All three of the major indexes pushed further into record or multiyear highs.

The Nasdaq stretched its gain to 1%. It touched its best levels since early September 2000. The S&P 500 and the Dow Jones industrial average climbed 0.6% and 0.5%, respectively. Both hit fresh record highs.

Twitter (TWTR) jumped nearly 6% to a new high in the stock market today  after reversing early losses. It's now 26% past a 50.19 buy point from an IPO base cleared Dec. 10. Shares of the micro-blogging service have shot up more than 60% in just about a month. Twitter has yet to turn a profit, but sales have surged by triple digits for many quarters.

Investors are betting San Francisco-based Twitter can attract more ad dollars, as companies seek to market their wares through wireless devices and tie-ins with television programming. As the unprofitable company’s sales growth outpaces that of competitors such as Facebook Inc. and Google Inc., the stock has “graduated to cult status,” according to Blake Harper, an analyst at Wunderlich Securities Inc. in Baltimore.

“While the company is growing revenues faster than its fastest-growing peers and we do recognize the potential for the company to capture larger portions of the mobile and TV advertising market, it appears valuation metrics are irrelevant and that investors are betting aggressively on Twitter being the next great media-technology platform,” Harper, who recommends selling the stock, wrote in a note Tuesday.

“We don’t believe the current valuation justifies the risk,” wrote Harper, whose price target for Twitter is $34. “Especially with the company having yet to report a quarter as a public company.”

This source from Internet.

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