Twitter shares up, down in first full day of trading

Twitter's CEO Dick Costolo, and its co-founders Jack Dorsey, Evan Williams, and Biz Stone, celebrate the company's IPO at the New York Stock Exchange.

Twitter’s CEO Dick Costolo, and its co-founders Jack Dorsey, Evan Williams, and Biz Stone, celebrate the company’s IPO at the New York Stock Exchange.

(Credit: Andrew Burton/Getty Images)

Twitter shares are bouncing up and down following a successful IPO day.

The company’s shares opened the day at $ 45.98 and surged to more than $ 46 in early trading on Friday before falling to the $ 44 mark. Early on in pre-market trading, Twitter’s shares were down, but quickly came back to even and jumped to even higher levels.

Twitter went public on Thursday for $ 26 a share. The company’s shares opened at $ 45.10 and held strong throughout the day. Twitter on Thursday hit a high of $ 50.09 before closing the day at $ 44.90.

A first-day pop is common in the land of big IPOs. It’s the subsequent days, however, that ultimately determine whether investor excitement around a particular company was based in hopes for quick profits or the belief that over time, a firm can deliver even more upside. For now, it appears investors are somewhat bullish on Twitter’s prospects. It should be interesting to see how long that lasts.

That wasn’t the case with Facebook’s botched IPO last year, which saw shares plummet following a less-than-stellar opening.

We will update this story throughout the day with Twitter stock updates.

Inside Scoop: Twitter’s stock skyrockets

CNET News

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