NEW YORK – Twitter stock opened at $45.10 on the New York Stock Exchange amid strong demand
Twitter’s trading debut is the most highly anticipated since Facebook’s last year.
Twitter trades under the ticker symbol “TWTR.”
Twitter priced the initial public offering of stock at $26 per share, valuing the company at more than $18 billion based on its outstanding stock, options and restricted stock that is available after the IPO.
The high price comes despite the fact that Twitter has never turned a profit in seven years of existence. Revenue has been growing, but the company is also investing heavily in more data centers and hiring more employees.