Twitter’s stock debut up 73 above its IPO price. Twitter’s trading debut is the most highly anticipated since Facebook’s last year. Twitter will trade under the ticker symbol “TWTR.”
Twitter late Wednesday set a price of $26 for its initial public offering of stock, which means the company’s shares can begin trading Thursday on the New York Stock Exchange.
The unorthodox and risky investment opportunity kicked off Thursday with an IPO filing proposing to sell stock for a stake in the future income of the Houston Texans’ Arian Foster.
According to a Securities and Exchange Commission filing, enough shareholders approved a plan to turn the company into a publicly traded real estate investment trust.
Three men have been charged in New Jersey with stealing $6.7 million from an investor, in part by claiming they had special access to Facebook shares before the company went public.
The initial price didn’t hold, gaining 11 percent as investors scrambled to get a piece of the company that started in a Harvard dorm room and became, with Friday’s trading, a more than $100 billion giant.
Facebook Inc. and its early investors now stand to reap as much as $18.4 billion from the IPO, if the extra shares reserved to cover additional demand are sold as part of the transaction.
GM returned to life as a public company as its stock started trading for the first time since the American manufacturing icon collapsed into bankruptcy last year.