What's Twitter really worth? It's been hard to tell since the Nov. 7 IPO, with the Wall Street frenzy nearly doubling the $26 stock on its first day alone. And then, when an analyst dared put a sell rating on the stock, it took a 13% hit. Some might excuse that as a correction. But others would call it a long-overdue reality check.
- Twitter (NYSE: TWTR) Stock: Biggest One-Day Drop Is a Warning Sign for Investors
- Who Gets Rich from the Twitter IPO?
A lot of people got rich on Twitter (NYSE: TWTR) stock following the Twitter IPO this week.
Especially after it opened 73% above its IPO price at $45.10.
The company announced Wednesday that it priced the 70 million shares at $26, which will raise about $1.8 billion dollars for the social media and messaging darling. Although the company tried to keep expectations low following Facebook's (Nasdaq: FB) ill-starred debut last year, the road show seems to have generated enough demand to warrant a higher offering price.