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Thursday, November 07, 2013
Twitter Shares Soar In NYSE Debut


Twitter soared 92 percent in its first day of trading on Thursday on the New York Stock Exchange (NYSE) as investors showed a high interest in the popular microblogging site.

The shares opened at $45.10 a share, up from the initial public offering price of $26 set on Wednesday, then added to those gains, hitting a high of $50. The company's market value was over $28 billion.

The microblogging network priced its 70 million shares to $25. The IPO values Twitter at $14.1 billion, with the potential to reach $14.4 billion if underwriters exercise an overallotment option.

Twitter boasts 230 million global users.




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