SAN FRANCISCO - Not everyone was breaking out the bubbly for Twitter’s market debut. Many similar underlying trends and capture much in the way of market share from the digital advertising industry’s incumbents.”Ī group of protesters gathered outside of Twitter's headquarters on Thursday morning. The two companies are a long way from being directly competitive, even as they both ride Least a comparable chance that loftier-than-we-expect revenue expectations would be realized by Facebook, too. “To the extent that loftier-than-we-expect revenue expectations are realized by Twitter, there would seem to be at He urged investors interested in Internet companies to buy Facebook stock instead. (This year’s revenue is projected to be about one-tenth that level.) He said that to justify the $45 price today, Twitter would have to generate more than $6 billion in annual revenue by 2018. Wieser, who had a price target of $30 on Twitter before the shares began trading, wrote, “With a price that pushes into the high 30s and beyond, Twitter is simply too expensive.” SAN FRANCISCO – Twitter’s stock opened so high that one analyst has already downgraded it to a sell.īrian Wieser of Pivotal Research, an independent research firm, sent a note to clients on Thursday morning Google’s stock has fallen about 1 percent today. Shares of Groupon, the daily deals company, have fallen about 3.5 percent today, giving the company a market capitalization of about $6.4 billion.īut Twitter is far behind Facebook, which currently has a market value of about $116.6 billion, having fallen 2.3 percent today.Īnd it’s a long way from Google, which has a market value of about $338.6 billion. With the stock having fallen about 3.6 percent today. LinkedIn’s market capitalization is currently about $25.4 billion, Twitter’s valuation is now roughly on par with that of LinkedIn, an older social network that caters to the business community. ![]() The stock prices of other technology companies have fallen today, largely outpacing a decline in the Standard & Poor’s 500-stock index. The shares have climbed about 80 percent from the initial public offering price. Investors are valuing Twitter’s equity at about $25.4 billion, as of mid-afternoon. On its first day as a public company, Twitter commands a market capitalization that places it among the largest technology firms. “We were very comfortable with how things went today,” he said.īut he acknowledged that markets were fickle, and it was still early days for Twitter as a public company. Cutler said he was pleased with the market’s initial reaction. Speaking after Twitter had begun trading, Mr. Cutler, who joined the actor Patrick Stewart and a couple other eclectic Twitter users to ring the opening bell “Companies of all sizes have access to capital in the public markets,” said Mr. Since the start of the year, the Dow Jones industrial average is up 19 percent, the Standard & Poor’s 500-stock index is up 23 percent, and the Nasdaq composite index is up 28 percent. “This is actually the capital markets working extremely well.” “We’ve had $44 billion in I.P.O.s this year,” said Scott Cutler, head of global listings at NYSE Euronext. Lost amid the hype over Twitter’s initial public offering is another, possibly more enduring bit of good news: The markets are healthy. Mike Gupta, Twitter's chief financial officer, photographed the company's initial public offering price before shares began trading Thursday. Tim Dorsey 7 Nov A thank you and congratulations to and the team! $TWTR”īig day for – its officially okay to be a proud mother today. Tim Dorsey 7 Nov Welcoming and to What an amazing day. Thursday was all about Live from – it’s and #proud //t.co/u9TCi75udq” Many of their Twitter postings involve scenes of daily life, mingled with updatesĪbout their son’s companies, Twitter and Square. Louis called MA Tech Services, which sells mass spectrometers. ![]() The parents of Twitter’s chairman own a company in St. Dorsey suggests that she may be the “grandmother of Twitter.” In that case, Timothy Dorsey would be Twitter’s grandfather. Marcia Dorsey, his mother, who was one of the earliest users of the social network, was posting tweets of encouragement throughout the day.ĪLWAYS wonderful to see hard work rewarded! The co-founder and chairman, no matter what. But the company has two big cheerleaders, who are standing behind Jack Dorsey, Twitter has plenty of critics, arguing the company is overvalued or expressing skepticism about its ability to attract more users.
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