Twitter Inc Market Cap Surpasses Yahoo’s Briefly

Twitter Inc Market Cap Surpasses Yahoo’s Briefly
<a href="">ElisaRiva</a> / Pixabay

Twitter Inc (NYSE:TWTR) shares have soared in their debut on the New York Stock Exchange, earning buyers of its initial public offering instant profits. The stock climbed so high that Twitter’s market capitalization surpassed that of Yahoo! Inc. (NASDAQ:YHOO), Time Warner Cable Inc (NYSE:TWC) and other longer established companies for a time. That’s according to a report from Michael Mackenzie and Vivianne Rodrigues of the Financial Times.

Twitter Inc Market Cap Surpasses Yahoo's Briefly

Twitter’s market cap swells to $34.7 billion

Twitter shares peaked at $50.09 per share in intra-day trading today, which gave it a market cap of $34.7 billion. In comparison, Yahoo! Inc. (NASDAQ:YHOO)’s market cap is around $34.16 billion, while Time Warner Cable Inc (NYSE:TWC)’s market cap is approximately $33.77 billion. Other companies which had their market caps surpassed by Twitter today include DIRECTV (NASDAQ:DTV), General Mills, Inc. (NYSE:GIS) and Kraft Foods Group Inc (NASDAQ:KRFT).

DG Value Surges On Recovery Plays

investAccording to a copy of the firm's February investor update, Dov Gertzulin's DG Value Partners returned +4.48% net for the month of February, which ValueWalk has been able to review. Q4 2020 hedge fund letters, conferences and more Following this performance, the firm has returned +8.32% net for the year to the end of February. Read More

As of this writing, Twitter’s market cap had fallen to $24.88 billion after more than 105 million shares were traded.

Because of how quickly shares of Twitter Inc (NYSE:TWTR) climbed today, analysts began to downgrade the stock. Pivotal Research analyst Brian Wieser and Seabreeze Partners Management president Doug Kass both handed out downgrades for the company today.

Did Twitter ask for enough money?


Today’s tremendous debut has some questioning whether Twitter Inc (NYSE:TWTR) asked for enough money in its IPO. Bloomberg Contributing Editor Paul Kedrosky and Twitter Co-Creator Dom Sagolla discussed whether the micro-blogging site left money on the table in its IPO and if it should have asked for more.

Kedrosky believes Twitter did the offering just about right. He said the company got people excited and then will be able to look for bigger sales in secondary offerings as it expands its float. Currently the float is relatively small.

Sagolla was asked if he thinks the company he co-founded is worth $50 a share, and he said he does. He believes in the company’s management and says it has grown in maturity. He believes this was reflected in management’s decisions regarding Twitter Inc (NYSE:TWTR)’s IPO today.


No posts to display