Actor Patrick Stewart rings opening bell, as Twitter tweets ‘#Ring!’
FRAMINGHAM – Twitter is now a publicly traded company, opening at a price of $45.10 a share, 73% higher than its initial IPO price.
The micro-blogging company became the latest social network to launch an initial public offering, as traders spent the morning getting ready to begin trading the company’s stock.
The company begin trading under the stock symbol TWTR on the New York Stock Exchange shortly before 11 a.m. today.
For Twitter, as well as for the social networking world, the IPO will be a milestone and a bellwether.Facebook, the largest social network in the world, had a troubled IPO disappointing IPO launch last year.
Now all eyes are on Twitter, a company that has yet to make a profit, to see if the company has charmed Wall Street, creating investor enthusiasm and pulled off a successful trading debut. Late yesterday, Twitter closed its books and priced 70 million shares at $26 apiece. That price valued Twitter at $14.1 billion, though that figure could climb if underwriters pull more optional shares in for trading.