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November 8, 2013 10:08 pm GMT

Twitter Stock Drops 5% as IPO Day Hype Fades

Twtr

The honeymoon period may be over.

Twitter's stock dropped to as low as $42.32 a share in early trading Friday, a decline of 5% from the closing price of $44.90 on its first day of trading. The stock is currently trading below its opening price of $45.10, though it is still well above its initial offering price of $26.

See also: Twitter's IPO: Less Volatile Than Facebook's and Less Profitable

It's certainly not unheard of for a stock to give up some of its first-day gainsLinkedIn's stock closed its first day at $98 a share, more than double its IPO price, but fell back down into the high $80-range during the next few trading daysFacebook's stock barely stayed above its $38 IPO price on its first day as a public company and fell below that mark on the second day of trading. Read more...

More about Twitter, Stocks, Business, and Twitter Ipo

Original Link: http://feeds.mashable.com/~r/Mashable/~3/y3Yu4eHJZXU/

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