Top Stories
Top Stories
Market Insider

LinkedIn buyout, SoundCloud investment lift Twitter shares

Yoshikazu Tsuno | AFP | Getty Images

Shares of Twitter gained nearly 4 percent Wednesday, still riding on the momentum of LinkedIn being bought by Microsoft.

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.

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

TWTR 12-month chartSource: FactSet

—CNBC's John Melloy contributed to this report.