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LinkedIn buyout, SoundCloud investment boost Twitter shares

Fred Imbert
Updated

Shares of Twitter (NYSE: TWTR) gained nearly 4 percent Wednesday, still riding on the momentum of LinkedIn (NYSE: LNKD) being bought by Microsoft (NASDAQ: MSFT).

Microsoft announced Monday it was buying professional social media platform LinkedIn for $26.2 billion , sparking talk about the possibility of Twitter being acquired by another company.

Twitter also had positive news Tuesday , after Recode reported the social media company had invested about $70 million in SoundCloud.

After a year of negative headlines about the falling stock and executive turnover, investors likely also took the SoundCloud news as a sign the company is still at work to make the product better.

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That said, Twitter's stock remained down nearly 54 percent over the past year, despite Wednesday's gains.

TWTR 12-month chart

Source: FactSet

—CNBC's John Melloy contributed to this report.



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