NEW YORK (TheStreet) -- Shares of Twitter (TWTR) - Get Report are up 2.60% to $16.18 in mid-afternoon trading on Thursday after announcing that it would live stream ELeague's Counter-Strike: Global Offensive semi-finals and championship this weekend.
The Atlanta-based tournament for the first-person shooter game marks Twitter's first e-sports live streaming event. Twitter is the "native social platform for e-sports," Christina Alejandre, general manager of ELeague, said in the announcement.
"Gamers are one of the largest and most engaged audiences on Twitter, and we are thrilled to partner with Turner and WME/IMG (creators of Eleague) to bring them the live content from ELeague and Twitter commentary they are already looking for, all on one screen," Anthony Noto, Twitter's CFO, said in a statement.
The San Francisco-based social networking company also has deals to live stream sports events from the NFL, MLB, NHL, NBA and Pac-12.
Earlier this week, Twitter's stock plummeted after reporting a fiscal 2016 second quarter revenue miss.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate TWITTER INC as a Sell with a ratings score of D. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: TWTR