Twitter held its initial public offering last month at $26. Since then the stock has increased by 169%, valuing the company almost $40 million. Investors are confident that Twitter can attract more money from ads as evidenced by the fact that its sales growth exceeds that of competitors like Facebook and Google.
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Twitter shares continue to soar, valued at almost $40 million
Bloomberg
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Published December 25, 2013
TECHi's Take
Twitter Inc. (TWTR), the microblogging service that held its initial public offering last month, rose to a record for a third trading day amid optimism that the company has room to expand sales in digital advertising. Twitter jumped 8.4 percent to $69.96 at the close in New York after rising 7.5 percent yesterday. The stock has surged 169 percent since going public at $26 on Nov. 6, giving Twitter a market value of almost $40 billion — larger than Time Warner Cable Inc., media company Viacom Inc. and retailer Target Corp.
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