Today was the day that everyone was waiting for. Twitter debuted on Wall Street today but not on the Nasdaq as other big companies, like rival Facebook, have but rather on the New York Stock Exchange, Some say that Twitter went with the NYSE because of the trouble Facebook had immediately following their IPO.
With no clear understanding of Twitter’s revenue the stock shot off like a rocket when it finally went on sale this morning at 10:51am at a price of $45.10 a whopping 73% above the $26 initial opening price tag. According to the Associated Press via Yahoo News, the opening price put Twitter’s valuation at $31.3 billion dollars and AP’s Barbara Ortutay noted that puts them in the same sandbox with Yum Brands and Deere & co.
The Twitter founding was all on hand at the New York Stock Exchange this morning. Business Insider pointed out that Executive Chairman and co-founder Jack Dorsey even got a sporty new haircut for the special occasion.
At 10:51 this morning Jack Dorsey became a billionaire. Ev Williams also made over $1 billion dollars and these other Twitter founders, and investors became heamillionaires.
Twitter stock reached a high of $49.96 just minutes after it’s debut and has now settled between $45 and $46.00.