Twitter's First Day on NYSE
Posted: November 8, 2013 by Emily Brown
After going for a cautious IPO stock price, Twitter had a pretty consistent first day as a public company Thursday trading on the NYSE as $TWTR.
Rising from its humble beginnings as a declining podcast startup into one of the world's largest online micro-blogging services with over 230 million users, Twitter priced its shares at $26 on Wednesday night, giving it a market value of $18.1 billion.
On Thursday, the opening trade was priced at $45.10, and the company closed at $44.90 a share, which is 73% above its initial public offering price.
It's true the settling price was slightly below the day's opening price of $45.10, but overall, it all ended well. The highest price the stock briefly hit during the day was $50, experiencing heavy trading volume with more than 110 million shares changing hands.
Given the magnitude of the IPO, there is plenty of buzz about who are the people getting rich in the process. Even though it will take a while until it's sorted out who are the newly minted billionaires, Twitter co-founders Jack Dorsey and Ev Williams are sure among them.