[10:51 AM PST] TWTR went live on the New York Stock Exchange today. Their IPO price was set at $26, but they opened at $45.10.
That price values the company at around $31 billion… even though Twitter had never turned a profit. One explanation is that growing revenue was used to expand; the other is that Twitter is just another profitless, post-peak internet stock.
Regardless, there’s fairly strong demand for TWTR. The stock has already gone as high as $50.09, but is currently around $45.70. This is about 76 percent over the initial IPO strike price.
[12:20 PM] Facebook, LinkedIn, AOL, Google, and Pandora’s stocks have seen losses today.
[2:13 PM] Stock closes at $44.90, 73 percent above IPO price.
More as it becomes available…