ExtraTorrent-Twitter Share Price Rocketed after Float

[Atreides]

A social network, which is known for limiting you to 140 characters when you have something to say to the universe, has finally floated on the New York Stock Exchange. Twitter was valuing itself at $14.4 billion at the moment of its flotation.

Twitter started with share price of $26 per piece, and was selling 70 million shares. The executives at Twitter were expected to make a killing and TWTR turned in a loss of around $134 million in the first 9 months of 2013.

The very next day after floatation shares in Twitter increased by 72% on the New York Stock Exchange. Initially priced at $26 per share, the stock closed at $44.9, which resulted in potentially big profits to investors. The industry experts point out that the bump in the company’s share price is in sharp contrast to Facebook’s IPO. The latter saw the social networking website flutter initially.

Indeed, Twitter’s stock surge might be somewhat surprising, provided that the company has not made any money and actually turned in a loss in the last 9 months.