Dazzling Twitter debut sends stock soaring 73 pct

[Omaha Steve]

Source: AP-Excite

By BARBARA ORTUTAY

NEW YORK (AP) - Shares of Twitter went on sale to the public for the first time Thursday, instantly leaping more than 70 percent above their offering price in a dazzling debut that exceeded even Wall Street's lofty hopes.

By the closing bell, the social network that reinvented global communication in 140-character bursts was valued at $31 billion - nearly as much as Yahoo Inc., an Internet icon from another era, and just below Kraft Foods, the grocery conglomerate founded more than a century ago.

The stock's sizzling performance seemed to affirm the bright prospects for Internet companies, especially those focused on mobile users. And it could invite more entrepreneurs to consider IPOs, which lost their luster after Facebook's first appearance on the Nasdaq was marred by glitches.

In Silicon Valley, the IPO produced another crop of millionaires and billionaires, some of whom are sure to fund a new generation of startups.

FULL story at link.


Read more: http://apnews.excite.com/article/20131107/DA9U2FMO1.html

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Twitter CEO Dick Costolo, Chairman and co-founder Jack Dorsey, and co-founders Evan Williams and Biz Stone, front row left to right, applaud as they watch the the New York Stock Exchange opening bell rung, Thursday, Nov. 7, 2013. If Twitter's bankers and executives were hoping for a surge on the day of the stock's public debut, they got it. The stock opened at $45.10 a share on its first day of trading, 73 percent above its initial offering price. (AP Photo/Richard Drew)

[Ilsa]

1. A couple of decades ago, my broker told me

it was too difficult to get in on the ground floor of an IPO. Is it any different now?

[PSPS]

2. Yes. That's reserved for the banksters and their billionaire clients

Almost nobody gets an IPO at the issue price. That's because those sales are all reserved for those on the inside -- the banksters working the IPO and the "wealthiest clients" of brokerage houses. Everyone else ends up buying their shares from these people, who are the only ones who make any money. In other words, the higher the bounce an IPO gets on the first day, the more money gets made by the banksters handling the offer and their billionaire buddies. Everyone else buys at a much higher price. So, based on this fiasco, the top 0.001% made another few billion off fools who think a non-profit texting system is a "good investment."

[onehandle]

3. I don't think Google or Facebook or Twitter should be on the stock market.

Conceptual data companies are too volatile.

What if MySpace was on the market?

The Stock Market is a joke.

[RSmith320]

5. It'll tank once the hype wears off.

Seems like a lot dot-com-like companies are making their way on the market. Its all hype, then it'll tank like the many before them. The stock market was designed for the rich to get richer and provide an illusion of potential future wealth to the regular folk.

[Javaman]

4. isn't any new IPO just another pump and dump situation

much like facebook massive fall, I suspect twitter will do the same.

all the wealthy get their bids in early make a huge bundle then dump it when it reaches X amount then watch all the suckers get taken for a ride.

unless by some minor miracle of sanity, (which is very rare on wallstreet), we will hear in a weeks time the sob stories of morons that bought twitter on the belief that it was going to be "never ending ride of rainbows and candy", but had lost their shirt because they were so stupid to believe the echo chamber.

meh, another day, another wallstreet scam.