Twitter and Square Both on Verge of Doubling This Year

Twitter and Square Both on Verge of Doubling This Year
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Square and Twitter, which both count Jack Dorsey as CEO, are on the brink of boasting 100 percent gains this year, according to Bloomberg. The firms are now worth more than $62 billion combined, surpassing the market value of Tesla.

In the past, investors have expressed skepticism about Dorsey’s ability to effectively run both companies at the same time. It seems some shareholders have put those concerns on the backburner.

Square shareholders have applauded the firm’s recent decision to acquire website-builder Weebly for $365 million, as well as its foray into Bitcoin buying and selling. The shares hit an all-time high Monday after the company received a virtual-currency license in New York, and climbed to another record on Wednesday.

Investors have also been optimistic about Twitter’s nascent turnaround. The company’s push to add more live video and personalized content appears to be starting to pay off, boosting revenue and profit by luring users and advertisers. Dorsey has been positioning the platform as a place to discover "what’s happening now," trying to use artificial intelligence to curate content for people based on their interests. Analysts covering both companies have expressed increasing enthusiasm in recent months.