1:15 PT: And that’s a wrap! Twitter’s public stock has closed at a price of $44.90 — $0.20 lower than its opening price. It caps off a pretty rocky day for the stock, which ballooned as high as $50 before decreasing again. Still, Forbes reports that the 72% increase of Twitter’s initial stock price of $26 means that a user on the microblogging network is worth roughly $110, compared to a Facebook user’s $98. High hopes for the company’s potential have certainly shown clearly today on the trading floor.
12:35 PT: Share price has yet again come off of the $48 dollar-mark, dipping back to $46.22. While Twitter keeps riding the ups and downs of a volatile stock debut, USA Today confirms what has already been speculated: almost all other social network IPOs are down today. In addition to Facebook and Linkedin, Groupon and Yelp have also seen price drops today. The worst in the group is Yelp, which is down 6 percent to $61.46.
11:58 PT: Stock has broken the $48 mark, making it officially a bigger stock than Facebook (which sits at $47.92). It’s a hallmark of the conversation that has been going on all day: How can a social media network with no profit outsell one with measurable (and increasing) profit? It’s that unanswered question that has kept analysts skittish.
11:10 PT: Despite the hubbub this morning, Twitter stock has managed to hover around the $46 mark throughout the mid-day. This morning’s ruckus didn’t help the Dow, though, which has dropped more than 110 points since its record-high close last night. Both Facebook and LinkedIn are still seeing minor drops, at $48.05 and $213.21, respectively.
10:20 PT: The stock has seen a slight uptick, trading around $46. Volume seems to have stagnated — from a high of 30 million to now just 2 million. As far as momentum goes, Twitter doesn’t seem to have much of it.
9:00 PT: Twitter is holding relatively steady at around $45, and CNBC breaking news journalist Robert Hum states that 70M shares have been traded within its first hour on the floor. However, Pivotal Research analyst Brian Wieser has reportedly downgraded the stock to “Sell,” calling it “too expensive” — the New York Times quoted him among a number of analysts who say that Twitter stock is only worth trading around $29
8:20 PT: After reaching as high as $50 in its opening minutes, stock has already dropped off to $45.22. However, that still leaves Twitter’s overall value at $31 billion — far above the $10 billion listed in the original S-1. Meanwhile, Facebook and LinkedIn are down, trading at $47.79 and $213.21, respectively.
7:50 PT: And Twitter has landed! Public trading has finally begun, with an opening price of $45.10, roughly 70 percent higher than its initial price of $26. Reuters reports that the price increase is a result of trading floor enthusiasm.
6:50 PT: Like the Facebook IPO on opening day, Twitter also seems to be fashionably late, as general trading opened minutes ago, but we’re still waiting for the first share of Twitter to change hands in public.
Earlier: Today is the day: Twitter will be on the trading floor for its first day as a publicly traded company. Yesterday, the company announced that it will enter the market with a $26 per share price, which values the company at $18.2 billion.
Throughout the day, we will be updating this page with the price of one of the most anticipated IPOs of the year. Also check out our slow live blog of the day’s events over here.
For now, here’s a look at Twitter through charts:
Twitter monthly active users worldwide
Twitter monthly active users worldwide (percentage growth)
Twitter total revenue
Twitter profit (net loss)
Revenue by type 2013
All data from Twitter S-1 SEC Filing
As Twitter goes public, a look back at recent IPOS
Credit: Rani Molla