Twitter Closes at $44.90, Up 73%

That puts the value of the company at $31B
By Newser Editors and Wire Services
Posted Nov 7, 2013 3:28 PM CST
Twitter Closes at $44.90, Up 73%
Specialist Glenn Carell works at his post on the floor of the New York Stock Exchange Thursday.   (AP Photo/Richard Drew)

(Newser) – Twitter, aka TWTR, wrapped up a strong debut on the New York Stock Exchange today by closing at $44.90 per share, up 73% from the IPO price of $26, reports the Wall Street Journal. The stock opened strong at $45.10 and pretty much stayed that way through the trading day, drawing the inevitable comparisons to Facebook's lousy debut 18 months ago. The closing price puts the value of the company (which has yet to turn a profit in seven years) at $31 billion, reports AP. As Bloomberg puts it, "investors paid a premium for its promises of fast growth." (Read more Twitter stories.)

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