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Twitter Set To Make The Most Anticipated Stock Market Debut Since Facebook

Sunday, 03 November 2013, 20:12 Hrs
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New York: Wall Street is aflutter over Twitter, set to make the most anticipated stock market debut since Facebook in a huge test for social media and the technology sector.



No official date has been set, but Twitter appears on a fast track which could see its initial public offering priced as early as Wednesday for trading on Thursday, according to some reports.



The company will trade under the "TWTR" symbol on the New York Stock Exchange, breaking from the Nasdaq market used by a large number of tech companies.



There is considerable excitement about the IPO because Twitter is "a unique product that no one can replicate," said Michael Pachter, head of equity research at Wedbush Securities.



Pachter and his colleagues said in a research report that they expect high demand.



"We believe that the market is likely to generate appetite for more than $1 billion in stock," they said.



"The simple rules of supply and demand suggest that by limiting the supply of shares offered to the public in its IPO, Twitter will be unable to satisfy demand."



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Source: PTI
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