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Here’s Why Shares of Twitter Are Climbing Today

Trading At The NYSE As U.S. Stocks Join Global SlideTrading At The NYSE As U.S. Stocks Join Global Slide
A monitor displays financial news about Twitter at the New York Stock Exchange (NYSE) in New York on Feb. 11.Photograph by Michael Nagle — Bloomberg via Getty Images

It was a rare win for Twitter (TWTR) when the struggling company outbid Amazon, Verizon, and Yahoo for the global online streaming rights to Thursday night National Football League games in April.

Now the social media company wants to milk that deal for all that its worth, according to a Sunday New York Times article.

According to the Times, Twitter is talking with Apple to potentially bring a Twitter app to Apple TV, according to people familiar with the matter interviewed by the Times. Such a deal would allow the networking site to show the NFL games through the streaming box, and expose Twitter to Apple TV’s more than 10 million U.S. customers.

Shares of Twitter rose 6.4% in midday trading Monday following the news, as the news gave investors hoped that a deal with Apple TV could help push the accelerator on Twitter’s weak growth over the past two years.

While Facebook’s active user base has soared, Twitter’s monthly active user figure has stagnated. The company eked out a 3% gain in its monthly active users during the second quarter of 2016, bringing that metric up to about 313 million worldwide.

 

Twitter’s focus on live streaming and live events is a part of a larger plan put in place after CEO Jack Dorsey took the helm to make Twitter more appealing and more addictive to a wider audience.

Shares of Twitter are down 29% over the past 12 months and down nearly 70% since its all time closing high in late 2013.

Apple and Twitter declined to comment for this story.