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Twitter stock falls 7 percent on second day of trading

on November 9, 2013

Gigaom

Yesterday may have been a boon for Twitter (s twtr), opening on the NYSE with a stock price of $45.10 (well above its IPO price of $26) and a cool $1.8 billion in cash from the transaction. But while bullish buyers drove the stock price as high as $50 yesterday, the stock’s second day drew to a close at $41.65 — a 7.24 percent drop. Blame it on the lack of profits, which has led analysts to downgrade the stock.

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