In Facebook's IPO last year, client calls at Granite Investment Advisors rang off the hook as clients called about the social media giant's anticipated debut. In contrast, the investment company had not fielded any calls regarding Twitter's debut as of Friday morning.
Tim Lesko, the principal at Granite Investment Advisors, said that there were no single calls yet. He also added that he would also hold back until he sees a few more quarters of financial results.
Lesko said, "We want to start seeing numbers. They need to mature a little bit before we would think that we were getting good numbers and consistent numbers."
Twitter Inc's most anticipated debut had been dampening enthusiasm for the shares of the social network platform after remembering Facebook's 2012 public offering.
Similar to Facebook, Twitter had been enjoying strong brand recognition. This was the reason why Facebook was able to raise its debut price to USD38 per share piece. This also valued the company to USD100 billion or about 99 times its 2011 earnings.
Facebook shares plunged on their first day of trading and continued to fall in the following months. The social media giant had not regained its IPO valuation until more than a year later.
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