Twitter soars in stock market debut

[The Straight Story]

Twitter shares soared in early trading Thursday as investors scrambled to get a piece of what they hope will be the next blockbuster social media company after Facebook.

Twitter and its bankers, led by Goldman Sachs' Anthony Noto, priced its IPO at $26 a share late Wednesday. The offering raises more than $2 billion and values the business at $18.34 billion.

The shares opened at $45.10 on the New York Stock Exchange, under ticker TWTR. The stock climbed even higher after that and recently changed hands at $46.71, up 80%. That values the company at more than $30 billion, which compares to Facebook's market capitalization of $120 billion and LinkedIn's $26 billion value.

Twitter CEO Dick Costolo told CNBC that the company is focused on making the service easier to use and highlighted its potential for big profit margins in the future.

http://www.usatoday.com/story/tech/2013/11/07/twitter-stock-market-debut/3459711/

[MoonRiver]

1. Why is the stock market down?

[The Straight Story]

2. Stocks go up, stocks go down. You can't explain that.

[MoonRiver]

5. I know, but thought Twitter would push at least the DOW up.

Maybe later today.

[UncleYoder]

3. At a poker game,

if you look around the table and can't figure out who the pigeon/sucker is.
It is probably you.

[LonePirate]

4. How did its price go from $26 to $45.10 before it began trading?

I really do not understand how these IPOs work or is Goldman Sachs just really bad at what they do?