All eyes were on Wall Street this morning as the much ballyhooed social media giant Twitter opened for trading. The IPO, trading under symbol #TWTR, didn’t disappoint. The Twitter IPO price was set at $26 Wednesday night and opened at an impressive $45.10 this morning, a 73% increase from its IPO.
The Twitter IPO was the most anticipated since Facebook went public last year. The trading this morning has gone smoothly and without issue. The Facebook IPO was a nightmare with buyers and sellers not receiving confirmations on the first day of trading.
Co-Founder Jack Dorsey’s first tweet after Twitter IPO
Twitter now has a market cap over $31 billion, which trumps blue chips General Mills, Deere & Co., and Norfolk Southern. Twitter is now twice the size of Ralph Lauren. All of this despite Twitter having not turned a profit in their seven years as a company.
TWTR is currently trading at $45.22 in heavy trading.