November 8th, 2013
Twitter shares increase by 73% in value on stock market debut
Twitter shares made their début on the New York Stock Exchange on Thursday 7th November 2013 and by the close of play had reached $44.90 (£28) per share – a 73% increase on their initial price offering of $26 (approx.£16).
Over 13 million shares were traded and the increase in share price meant that Twitter was valued at just over $31bn (£19bn) by the end of its first day as a public company. Earlier predictions had valued the company at nearer $13.6bn (£8.5bn).
Twitter has over 230 million users but has yet to make a profit – in the first six months of 2013, despite revenues of $254m (£158m), it lost $69m (£43m).
Mark Mahaney at RBC Capital Markets predicted the firm’s shares would rise after the listing.
“Just as Google, Amazon and Facebook have become Internet utilities, so too may Twitter.
“As a public, real-time, conversational and distributed platform, Twitter is becoming an essential service for consumers, businesses, media companies and advertisers.”< Back to Blog