Twitter Flies On Its First Day As A Public Company: Shares Pop 74% On First Trades, Debuts At $45.10 And $31.8B Valuation

TechCrunch

Photo Nov 07, 8 54 09 AM

From a humble beginning as a failing podcast startup to an online conversation service now used by over 230 million people worldwide, Twitter today started its first day of trading as a public company with a bang. Trading on the NYSE as $TWTR, the stock opened up at $45.10, a pop of 73.5% on the price of $26 that it set yesterday. The pop values the social network at $31.8 billion, based on 705,098,594 fully diluted shares.

This comes after a lot of trigger-happy price calling, with a “first look” from CNBC, apparently based on someone yelling out a number on the trading floor, pegging the stock at $35/share before later calls put it at between $40 to as high as $47.

Even after the first trade, the stock is still climbing and is now above $47. (And we’re updating this post as we continue to watch the stock. At…

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