Twitter Files IPO as Social Media Stocks Storm Back
Posted by Rant4u
As two of the most high-profile of social-media companies, investors have been anxious the past few years to see how those companies would make money and whether they would become high flying stocks. They are constantly talked about not just on Wall Street but on Main Street too.
Facebook got out the door first with its record-setting $16 billion IPO last May. But its weak reception — its stock took a year for it to return to its IPO price — spooked investors about social media and internet stocks in general.
Many expected Twitter to hold off until black cloud lifted on social-media stocks.
Well, things look better now.
Facebook shares are up 88% over the past three months as its results showed revenue growth in mobile, a key concern for shareholders at the time of the IPO. The stock hit an all-time intraday high on Thursday of $45.62. Read More
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