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Active investors don’t have a lot of faith in Twitter.
Forty-nine percent of them are already saying the social network will be a bad buy come IPO day, according to a new poll taken by AP-CNBC.
The survey revealed that 47 percent of Americans who aren’t specifically “active investors” are also poo-poo-ing the stock. The publication surveyed 1,006 adults in the United States to come up with these results.
Twitter is planning on going public later this week. Earlier today, the company upped its share price range to $23 to $25 from $17 to $20. It has 200 million monthly active users and predominately makes it money from advertising. According to the survey, only four in 10 Twitter users have actually noticed promoted content.
Facebook’s IPO might have contributed to this sentiment, however. A poll taken by AP-CNBC right before Facebook’s May 2012 IPO showed that 54 percent of active investors felt that Facebook would be a good buy. Of course, Facebook’s IPO turned out to be a dramatic event, delayed by NASDAQ technical glitches, and resulting in compensation being paid out to affected investors.
The social network’s share price dipped below its $38 IPO price, until finally popping back up 14 long months later following a particularly good earnings report. Today, Facebook is sitting around $48 a share.
Twitter is already making pains to separate itself from Facebook’s experience, going public on the New York Stock Exchange instead. The NYSE tested its system to make sure there will be no glitches come Thursday, Twitter’s anticipated IPO date.
But it seems survey respondents in general aren’t very positive about the five-year outlooks of many tech companies. Only 35 percent believe Twitter will be successful in five years, only 33 percent have faith in Google+, 24 percent in Instagram, 23 percent in Pinterest, and only 18 percent in LinkedIn.
Facebook’s chief financial officer David Ebersman recently revealed that “younger teens” are losing interest in the site. It’s possible other services could see the same decline.
Facebook is the world’s largest social network, with over 1.39 billion monthly active users. Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 we... read more »
Twitter is a real-time information network that connects you to the latest information about what you find interesting. Simply find the public streams you find most compelling and follow the conversations. At the heart of Twitter are s... read more »
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