Twitter Pops To Around $45 A Share
By Mark Memmott
Social media darling Twitter's stock debuted Thursday on Wall Street at a trading price of $45.10 — well above the $26 a share initial offering price the company set.
It appeared, traders say, that there were no problems with the launch of the stock.
Our original post — How Will It Trend? Click Here To Watch Twitter's Stock:
Enough with the buildup.
By now, you've probably heard that Twitter goes public today. Its stock will start trading on the New York Stock Exchange.
As we said Wednesday evening, the initial offering price has been set at $26 per share. So the 70 million shares should raise $1.8 billion for the social media site.
It may take a little while to know how Twitter's initial public offering is going. CNN Money notes that even though "the stock market opens at 9:30 a.m. ET, Twitter's shares likely won't start trading right away. It typically takes time — sometimes an hour or more — for newly listed shares to begin actively trading on the day of their public debut."
Every news outlet is also, of course, reminding folks about Facebook's "troubled" IPO in May 2012 and drawing comparisons to today. As Bloomberg News says, "18 months after Facebook Inc.'s initial public offering was crippled by a Nasdaq OMX Group Inc. computer, equity markets get a shot at redemption [Thursday] when the New York Stock Exchange hosts the debut of Twitter Inc."
Others are taking a different approach to the news. Planet Money is writing about "Chips, Beer, Tweets: Why TV Is Key To Twitter's Prospects."
What we mostly want to do as the day begins is to embed a little ticker that should let us all watch how Twitter (trading symbol "TWTR") is doing. You can follow it as well on the NYSE's website.
We'll update as the story develops.