Twitter is now officially trading live on the NYSE — and the value of the company has almost doubled immediately.
$TWTR is officially #OPEN on the #NYSE at $45.10 http://t.co/plnsT51KhH #TwitterIPO
— (NYX) NYSE Euronext (@NYSEEuronext) November 7, 2013
With Twitter pricing its shares at just $26 last night, the company has seen a massive 80 percent opening-day pop in its value, indicating that Barclay’s Capital, Twitter’s designated market maker, has done an amazing job working price discovery and managing demand.
[aditude-amp id="flyingcarpet" targeting='{"env":"staging","page_type":"article","post_id":857335,"post_type":"story","post_chan":"none","tags":null,"ai":false,"category":"none","all_categories":"business,entrepreneur,social,","session":"B"}']
Above: Now that’s a nice curve.
And while the full day of trading is yet before the stock, early returns are that Twitter’s IPO is a tremendous success. Based on its stock market valuation, the company is now worth $26 billion, with 544.7 million shares in circulation.
Expect first-day trading to be rather chaotic, however, as the shares find their equilibrium in a crowded market.
AI Weekly
The must-read newsletter for AI and Big Data industry written by Khari Johnson, Kyle Wiggers, and Seth Colaner.
Included with VentureBeat Insider and VentureBeat VIP memberships.
VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Learn More