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November 7th, 2013
08:41 PM ET
Twitter soars 73% from initial offering price in market debut
Twitter's HUGE day.
— Twitter (@twitter) November 7, 2013
The social media company's stock made a dramatic debut on the New York Stock Exchange.
While Twitter's stock was priced way above original expectations, at 26 dollars per share, it surged in its first day out of the gate.
#WOW! Twitter soars 73% in IPO
It closed at $44.90, up nearly 73 percent. But, how did Twitter earned its wings?
CNN's Erin Burnett reports.
This was probably inadvisable, but it's still kinda cool. This must be how Dr. Mike Burry must've felt...
So the lockup has expired & Twitter is starting to look good in the twenties. But now the market cap is < the $19bn Facebook paid for WhatsApp.
So is Twitter undervalued, or did Facebook do a crappy job at their valuation of WhatsApp? Or maybe neither, dunno.
Huh. Is priced for less than what it was going for earlier, but there's also the expiration of the lockup in May.
Not that I got a stake in this one, but purely from an academic standpoint, I wonder if today's earnings/user growth projections are the start of what Tyler was talking about. May just have to wait & see till Q1 results in April/May?
I dunno, not that informed on things like social media inbound marketing or monetizing mobile to really know how this'll go. Generally speaking, I know Tyler at Zero Hedge once wrote that "the man in the street that bought the IPO in the market on Day 1 now faces an average loss of 54%," for what it's worth.
Honesty, I'm way more excited about something like Square, since it's enabling commerce in situations it wasn't easily available & the business plan is way easier to understand.
Still stoked for Square's IPO later on down the line though.