Yesterday Twitter confirmed what the minimum price for stock in the company would be but the company’s IPO didn’t sit at the base price for very long, climbing at the start of trading to $45.10 per share.
The stock price didn’t dip much by the close of trading, being up 73% from the initial price and coming in at $44.90. Not a bad performance, especially when compared to Facebook’s IPO which took a decidedly different turn when the social network initially hit the market.
While Twitter’s IPO has gone very well so far, the real test for the company now that it is publicly traded will be seen in the long term. Facebook bounced back from a flawed IPO to its current price on the stock market, Twitter has yet to prove that it has what it takes to become profitable.
Source: The Verge