Thursday01 December 2022

Twitter enters the stock market

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Twitter, the popular microblogging service, during Thursday at 11 a.m. by the local time began public trading of its shares. Trade takes place on the New York Stock Exchange, under the symbol TWTR.

An initial public offering (IPO) included 70 million shares with a starting price of $26. The first sale was completed at a cost of $45.10, an increase of as much as 73%. Twitter's biggest competitor among social networks, Facebook, last year experienced pretty bad IPO. The starting price was $38 per share, the sale started with a price of $42, but at the end of the day they went down almost to the initial price and amounted to $38.23.

The value of Twitter when they entered the stock market was estimated at $14.1 billion. Currently, the popular service is used by more than 232 million people, an increase of 39% compared to last year.

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Last modified on Thursday, 07 November 2013 19:31

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