Twitter’s stock slid more than 7 percent on its second trading day Friday, after the popular short messaging service saw a huge first-day pop in what turned out to be a smooth public debut.
Twitter has set a price of $26 for its initial public offering of stock, which means the company’s shares can begin trading Thursday on the New York Stock Exchange.
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As Twitter prepares to complete its initial public offering of stock this week, the San Francisco company’s history of losses totaling nearly $500 million is raising questions about its ability to turn a cultural phenomenon into a sustainable business.
Twitter’s IPO could now raise more than $2 billion.
Facebook’s stock is soaring after the company reported a 60 percent revenue increase in the third quarter thanks to mobile advertising growth. The numbers beat Wall Street’s expectations for the second quarter in a row.
Just ahead of their initial public offering, San Francisco-based Twitter is getting more visual. In a feature rolled out on Tuesday, the social network has a new look which embeds photos in user’s feeds.
A new study by Piper Jaffray shows the fickle habits among U.S. teens and social networking sites. When asked which social network was most important to them, 23 percent of teenagers picked Facebook, down from 42 percent last year.
Twitter says it will sell more than 70M shares between $17 and $20 per share in its IPO .
Facebook is changing its settings so that those younger than 18 years old can post items that can be seen by the public.