BREAKING: Twitter (TWTR) shares closed at $44.90 on first day of trading on NYSE!

By pierreapienaar on Fri, Nov 8, 2013 - 4:05am

Twitter has just kicked off its IPO on the New York Stock Exchange and the share price close at $44.90 on first day of trading on NYSE.

Twitter shares soared Thursday as investors scrambled to get a piece of what they hope will be the next blockbuster social-media company after Facebook.


Twitter CEO Dick Costolo told CNBC that the company is focused on making the service easier to use and highlighted its potential for big profit margins in the future.


"There is nothing structural about our business that prevents us from achieving the kinds of margins that are in our peer group," Costolo said during an interview at the NYSE.


The Twitter IPO was heavily oversubscribed, which forced some investors to wait until the stock started trading today to buy it. That helped fuel big gains.


Twitter share gains were also driven by optimism about the company's long-term opportunities. The service is already a global media phenomenon, but it has a lot fewer users than Facebook, and the company's business model — essentially, the way it makes money — is still in its infancy.


Twitter’s management and its bankers are happy with the IPO’s outcome, according to a person with direct knowledge of their thinking. While they’re not surprised the stock gained so much, because of the overhang in demand, they expect it to drop toward $30 a share during the next three weeks


Questions remain over Twitter's financial prospects and how the stock will perform once subject to quarterly earnings reports.

"It seems to me like a speculative valuation for a company that is still unprofitable," says Richard Sloan, accounting professor at University of California-Berkeley.


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Pierre A Pienaar


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1 Comment

miltonjayro's picture
Status: Member (Offline)
Joined: Nov 9 2013
Posts: 1
BREAKING: Twitter (TWTR) shares closed at $44.90 on first day of

FB (Facebook) hit a high of $45 the day of the IPO release and dropped down to sub $20 range 

LNKD (Linkedin) hit a high of $120 few weeks after IPO release and hit low sub $60 level 

GRPN (Groupon) IPO release saw a high of $25 saw sub $4 


The bottom line these stocks dropped down more than 50%, a re-tracement is likely for the TWTR (Twitter) IPO wait until the stock drops sub $20 to actually buy the stock 




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