Social media site Twitter closed its second day of trading at USD41.65, down 7.24% from its Thursday performance. Twitter pegged its IPO at USD26 per share.
Twitter's valuation dropped USD2.3 billion, as shown by its fully diluted share outstanding of 705,098,594.
The micro-blogging site's share price opened at USD45.10 and closed at USD44.90 on the first day of its public offering. Twitter sold 70 million shares, raising USD1.82 billion, said Bloomberg.
According to a report by TechCrunch, Twitter originally signified that it would price the IPO as low as USD17 per share, far from its final USD26 offer price. Twitter's huge success has led some to belive that the company mispriced its offering, said TechCrunch.
Nonetheless, markets and larger technology industries are anticipating whether or not Twitter becomes the next big IPO. The company's success or weakness as a public offering will set the temperature for other companies' public undertaking.
TechCrunch said that Twitter investors are expecting the micro-blogging site to outperform comparable, and rival firms.
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