from The Daily Bell:
Twitter Surges in Trading Debut After $1.82 Billion Share Sale. Twitter Inc. jumped 73 percent in its trading debut, as investors paid a premium for its promises of fast growth. The stock rose to $44.90 at the close in New York from the initial public offering price of $26, delivering the biggest one-day pop for an IPO that raised more than $1 billion since Alibaba.com Ltd. debuted in 2007, according to data compiled by Bloomberg. Twitter sold 70 million shares, raising $1.82 billion. – Bloomberg
Dominant Social Theme: Twitter deserves its valuation, as Bloomberg has made clear. Like General Motors and General Electric before it, Twitter provides a metaphor for the US economy. It’s all about the messaging now.
Free-Market Analysis: IPOs sometimes catch the spirit of the times and Twitter certainly did. A company that allows people to send out tiny messages to lots of “followers” is worth US$25 billion or so based on yesterday’s IPO.
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