An Interest In:
Web News this Week
- April 19, 2024
- April 18, 2024
- April 17, 2024
- April 16, 2024
- April 15, 2024
- April 14, 2024
- April 13, 2024
Some of Our Sources
- Pearsonified
- Six Revisions
- Fuel Your Creativity
- Web Designer Depot
- Naldz Graphics
- Fudge Graphics
- Stylized Web
- Web Resource Source
- Android Headlines
- The Verge
Help Webnuz
Referal links:
November 9, 2013 03:00 am GMT
Twitter priced its IPO at $26 per share. It opened yesterday at $45.10, closing the day at $44.90. Today it closed at $41.65, down 7.24%. Using a fully diluted share count (705,098,594), Twitter’s valuation fell $2.3 billionin the regular trading. That’s more than half a SnapChat. The company’s massively successful IPO led some to claim that Twitter mispriced its offering. The company originally indicated that it would price the offering as low as $17 per share, a firm discount to its final $26 offer price. The markets and larger technology industry will closely watch Twitter in its first few quarters, given that the degree of its success – or weakness – as a public company will set the temperature for other companies’ IPO path. Keep in mind that Twitter, even after this correction – call it what you will – is valued richly. As Peter Kafka of AllThingsD points out, “Twitter investors are valuing the company at the same level as LinkedIn, even though LinkedIn generates twice as much revenue. And theyre valuing Twitter at about a fifth of Facebook, even though Facebook has more than ten times more revenue.” That implies that Twitter investors are expecting the company to outperform comparable, and rival firms. In other news, barometric pressure in San Francisco fell from30.09 inches this morning, to30.01 inches by the end of trading on the East Coast. Temperature moved in the opposite direction, rising from a chilly 52 degrees in the city this morning to a far warmer 63 degrees by the end of the regular trading. It isn’t clear that impact this will have on Twitter’s stock price tomorrow, but we’re digging into that now. Top Image Credit: Flickr
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/WvxIh2OLhtg/
Twitter Drops 7.24% In Its Second Day Of Trading, Burning $2.3B In Market Cap
Twitter priced its IPO at $26 per share. It opened yesterday at $45.10, closing the day at $44.90. Today it closed at $41.65, down 7.24%. Using a fully diluted share count (705,098,594), Twitter’s valuation fell $2.3 billionin the regular trading. That’s more than half a SnapChat. The company’s massively successful IPO led some to claim that Twitter mispriced its offering. The company originally indicated that it would price the offering as low as $17 per share, a firm discount to its final $26 offer price. The markets and larger technology industry will closely watch Twitter in its first few quarters, given that the degree of its success – or weakness – as a public company will set the temperature for other companies’ IPO path. Keep in mind that Twitter, even after this correction – call it what you will – is valued richly. As Peter Kafka of AllThingsD points out, “Twitter investors are valuing the company at the same level as LinkedIn, even though LinkedIn generates twice as much revenue. And theyre valuing Twitter at about a fifth of Facebook, even though Facebook has more than ten times more revenue.” That implies that Twitter investors are expecting the company to outperform comparable, and rival firms. In other news, barometric pressure in San Francisco fell from30.09 inches this morning, to30.01 inches by the end of trading on the East Coast. Temperature moved in the opposite direction, rising from a chilly 52 degrees in the city this morning to a far warmer 63 degrees by the end of the regular trading. It isn’t clear that impact this will have on Twitter’s stock price tomorrow, but we’re digging into that now. Top Image Credit: FlickrOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/WvxIh2OLhtg/
Share this article:
Tweet
View Full Article
Techcrunch
TechCrunch is a leading technology blog, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.More About this Source Visit Techcrunch