Posts Tagged ‘twitter shares’
Shares in Twitter fell 3.5 percent yesterday after Cantor Fitzgerald cut the company’s rating from “hold” to “sell”, based on what Cantor said were excessive valuations.
Twitter (TWTR) enjoyed its biggest single-day rise since its IPO in November, with the stock jumping 9.3 percent to $49.14 yesterday.
Twitter’s initial public offering (IPO) was, by all accounts, a huge success. The company sold millions of shares at its asking price of $26 dollar a piece and, at the time of writing, has a market capitalisation of $23.96 billion.
Of course, Twitter is still, relatively, a small company, and with that amount of cash being pumped into the firm, a lot of people did rather well. Indeed, by one estimate, some 1,600 Twitter employees are now millionaires or better. That’s the good news. The bad? Collectively, they owe more than two billion dollars in tax.
Twitter has priced its widely-anticipated IPO at $26/share, with 70 million shares expected to begin trading today on the New York Stock Exchange (NYSE) after the 9.30am ET opening bell.
Twitter’s initial public offering (IPO) will take place tomorrow at the New York Stock Exchange (NYSE), under the stock ticker TWTR.
Would you buy shares in Twitter?
Well, pretty soon you’re going to have the opportunity, as the company has submitted a form to the Securities and Exchange Commission (SEC) for a planned Initial Public Offering (IPO).
And while, as Twitter says, this announcement “does not constitute an offer of any securities for sale”, at an undetermined point in the future – but likely fairly soon – that’s exactly what you’ll be able to do.
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