Rumor Mill Instigates Yet Another Rally In Twitter

em>Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

Twitter Inc. TWTR shares are trading higher by $1.58 at $35.79 in Tuesday's session. Once again unconfirmed market chatter involving the issue are buoying its share price. Had the chatter had not swept the Street, the issue may have very well been heading to test its 52 week ($33.51) as it reached $34.15 in Tuesday's session before rallying to close at $34.21. After a higher open ($34.50 vs. Monday's close of $34.21), it dipped $0.06 to $34.44 before mounting a rally. So far, it has reached $35.94 and has backed off slightly from that level. The current high is just shy of the trio of highs from June 19-22 between $36 and $36.28. Twitter has not closed over $36, since June 8, when it ended the session at $36.46.