Twitter is now officially trading live on the NYSE — and the value of the company has almost doubled immediately.
— (NYX) NYSE Euronext (@NYSEEuronext) November 7, 2013
With Twitter pricing its shares at just $26 last night, the company has seen a massive 80 percent opening-day pop in its value, indicating that Barclay’s Capital, Twitter’s designated market maker, has done an amazing job working price discovery and managing demand.
And while the full day of trading is yet before the stock, early returns are that Twitter’s IPO is a tremendous success. Based on its stock market valuation, the company is now worth $26 billion, with 544.7 million shares in circulation.
Expect first-day trading to be rather chaotic, however, as the shares find their equilibrium in a crowded market.