Twitter posts 10-day winning streak after recovering from earlier losses

Shares of Twitter rose 0.8 percent, recovering losses seen earlier in the session to close back at a three-year high. Twitter closed at $40.10, around levels not seen since 2015.

The stock had fallen as much as 1.5 percent after the company announced the sale of $1 billion worth of convertible notes.

The notes, which will be offered to “qualified institutional buyers,” mature in 2024 and will be convertible into cash, stock, or a combination of the two at Twitter’s discretion, the company said.

The stock’s reversal also extended a winning streak to 10 sessions. During its winning streak, Twitter has gained more than 20 percent.

Twitter’s recent jump came amid a slew of good news for the company.

Last week, MKM Partners said Twitter would get a big sales boost from the upcoming FIFA World Cup soccer tournament, noting the service is “service is much improved than four years ago.” The tournament, which takes place every four years, will be held in Russia from June 14 to July 15.

Also, S&P Dow Jones Indices announced on Monday the social media company would replace Monsanto in the S&P 500 index starting Thursday.

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