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Twitter’s Stock Closes at $44.90 A Share, Up 73 Percent on Its First Day (The Verge)
Twitter held its initial public offering on the New York Stock Exchange Thursday morning, opening its stock up for purchase to any interested investor, and as it turns out, there were many. Shortly after trading began around 9:30 a.m. ET, Twitter’s share price rocketed well past the $26 per share minimum the company set Wednesday night, opening up 74 percent at $45.10 to start the day. It finished the day right around the same spot, at $44.90. WSJ “Phew!” tweeted Anthony Noto, the lead banker on the deal from Goldman Sachs Group Inc., moments after shares started trading. Those five characters summed up the sentiment among those involved in the market debut of the 140-character messaging service, the second-biggest U.S.-listed Internet offering ever after Facebook. Bloomberg Businessweek Twitter’s Nov. 7 initial public offering marks the San Francisco-based company’s coming-out party, the moment when it graduates from its South of Market beginnings and takes its place as one of the Internet’s most valuable properties, without ever turning a profit. What’s perhaps most remarkable about Twitter’s rise is how little the service has evolved from the original core concept of the 140-character tweet — which is to say, not at all. Reuters The strong performance on Thursday is encouraging for the venture capitalists who have backed other consumer Web startups, such as Square or Pinterest, though it sounded alarm bells for some investors who cautioned that the froth was unwarranted.