NEW YORK ( TheStreet) -- It seems as if nothing can stop the Twitter (TWTR) train. By midday on Thursday, the social network was rallying 4.5% to $73.11 and had seen a 23.8% boost in share value over the shortened Christmas week.
Demand for the company has reached stratospheric levels. Since its market debut in early November, the stock has surged 181.2% higher than its $26 IPO price and 62.1% over its opening trade of $45.10.
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"While the Twitter move in December may not have initially begun as a squeeze, it has turned into one. All those folks screaming about valuation have missed a 70% move," wrote Real Money Pro contributor Timothy Collins in his column Thursday. "Even I think the valuation has run way ahead of price at this stage. While the potential for the company remains, buying on anything other than a technical play makes little sense here."
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