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Twitter shares jump 73% in market debut

on November 8, 2013

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Shares in the microblogging site Twitter closed at $44.90, up more than 73% from their initial price of $26 each.

That means after its first day as a public company, Twitter is now valued at a little over $31bn (£19bn).

More than 13 million shares were traded once they became available an hour after the New York Stock Exchange opened.

It is the biggest technology listing since Facebook in 2012.

Twitter floated on the NYSE and not, as some initially expected, the technology-rich Nasdaq exchange, where the likes of Facebook are listed.

It was a big win for the NYSE, which decorated its exterior with banners promoting the offering on Thursday.

Twitter has more than 230 million users, but is yet to make a profit.

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