Micro-blogging site Twitter closed at USD41.65 today, dropping by 7.24% from its IPO debut. Social media site Twitter closed its second day of trading at USD41.
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Twitter Inc soared as much as 92 percent in its first day of trading on Thursday on the New York Stock Exchange as investors snapped up shares in the popular microblogging site in a frenzy that recalled the days of the dot-com bubble.
Twitter announced that it had set its IPO price at USD26 per share and will start trading on the New York Stock Exchange on Thursday.
Twitter's share price increase shows the divestiture of the conservative approach to IPO management.
Following the strong demand, Twitter raised its IPO price from USD23 to USD25. The social networking site has felt more optimistic than ever about its IPO for potential investor's reports The New York Time's the Deal Book.
A poll taken by AP-CNBC showed that almost half of active investors think that Twitter is a bad buy.
Both Wall Street and Silicon Valley await how the market responds to Twitter's IPO. Twitter's IPO is not just about shares held by investors and employees.
Twitter initial public offerings increased to USD26 per share by The Wall Street brokerage. On Friday, Morningstar united with three brokerages after setting price aim for Twitter Inc.
Twitter IPO volume expected to be fully taken because of increased interest from investors. According to people with knowledge of the matter, Twitter had already attracted more than enough demand to sell all of the IPO shares it can offer.
Twitter invited potential investors on Wednesday for a luncheon in preparation for the microblogging site's initial public offering.
