Twilio, the tech company that had a blockbuster initial public offering last week, is on fire again.

Shares of the company, which makes communications software, wer up as high as 21% in midday trading, at $33 — a new high.

The broader market is enjoying a bounce-back on Tuesday, after the massive sell-off triggered by the Brexit vote last week. But Twilio's pop is much bigger than the Nasdaq Composite's 60 point increase, which is about 1.3%.

And Twilio's gains on Tuesday far exceeded its lost ground, about 5%, over the past couple of days.

There's no immediate news about Twilio's business. On Monday, CNBC "Mad Money" host Jim Cramer endorsed the company, calling it a "unicorn with real value" and noting that the market "may be willing to pay up for growth again."


SEE ALSO: This VC firm wrote a $125,000 check over breakfast to Twilio — now it owns a $500 million stake in the company

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