Twitter IPO first trade at 45.10 USD, 73% above offering price
社交網(wǎng)站Twitter上市首日大漲73%

Twitter's stock took to its wings in its public debut, closing up more than 70 percent. The day flew by with nary a hitch and gave birth to a new batch of Silicon Valley millionaires - even a few
billionaires.

When shares finally opened- the first trade was at 45.10 dollars - that’s 73 percent above the offering price of 26 dollars.

They later soared as much as 92 percent in large part as retail investors swooped in.

"It’s dangerous if and only if the person thinks this is a great long term investment. It could be, but if this is being done to be part of something, to have the certificate, to have the boasting rights to tell everybody at the cocktail party then it’s a cost of entertainment," Max Wolff, chief economist & strategist of ZT Wealth, said.

And expensive boasting right for many- shares of Twitter closed their first day at $44.90- below that first trade.

Crowds were thick outside the NYSE- and inside the exchange- cheering the launch of the seven-year old social media phenomenon.

The opening price valued shares at 22 times expected sales for next year- that’s close to double rivals Facebook and LinkedIn.

If the full over allotment is exercised- which is pretty likely- Twitter will have raised 2.1 billion dollars. That puts it only behind Facebook- which raised 16 billion dollars last year.
Twitter’s 230 million users include world leaders and celebrities- but it does not make profit.

Its growth potential is off the charts according to Wolff:

"I think this is one of the companies that is built to last. I think it does incredibly well in journalism. I think it’s going to become the second screen with television. I think it has an incredibly bright future. The question is only how bright is that future, because at this point at $46 you have to believe the future of Twitter is brighter than the sun," he said.

Twitter’s debut on the NYSE , led by Goldman Sachs, went off without a hitch- a relief after the Facebook fumble at the Nasdaq last year.