It’s an unpredictable second day for Social network Twitter (NYSE:TWTR) on Wall Street. The company’s stock jumped 3% to over $46 as the markets opened Friday, but have since dipped as low as 4% after a fiery first day that almost doubled its price.
The micro-blogging service went public on the New York Stock Exchange with Twitter experiencing a 73% jump on its trading debut. The stock rose to US$44.90 at the close in New York from the initial public offering price of …
Twitter (NYSE: TWTR)made its unveiling debut in the publicly trade on Thursday, setting its initial share price of $26 before watching it surge to $45. It closed the day at $44.90, up 73%. The company raised as much as $2.1 billion and ended the day with a market capitalization of about $25 billion.
NEW YORK – TWITTER IPO LIVE – Strong market debut for Twitter – The Olympian – Technology
The stock closed at $44.90 on its first day of trading, giving Twitter a value of more than $31 billion based on its outstanding stock, options and restricted stock that’ll be available after the IPO. If Twitter‘s bankers and executives were hoping for a surge on the day of the stock‘s public debut, they got it.
Twitter (NYSE: TWTR), which has never curved a profit in the seven years from the time when it was founded, worked hard to temper expectations ahead of the IPO.But still, the majority of market analysts doesn’t expect the company to be profitable until 2015. Investors will be watching closely to see whether Twitter (NYSE: TWTR) was worth the premium price.
Twitter soars 73% in stock market debut – USA Today http://t.co/RIAxsAluit