IPO excitement isn't all a-Twitter

Twitter is the star this week, but the number of offerings shows that it's not just social-media darlings that are seeking and attracting investors.
By JOSHUA FREED, AP Business Writer Modified: November 5, 2013 at 8:17 pm •  Published: November 6, 2013
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Twitter is the big one. On Monday the online short-messaging service raised the expected price for its shares to $23 to $25, up from $17 to $20 each. The new price is enough to raise more than $2 billion. It's expected to trade on the New York Stock Exchange under the symbol “TWTR.”

Twitter appears cautious about how much it's seeking from investors after Facebook's IPO last year. On its first day of trading, Facebook's hotly anticipated stock finished just 23 cents higher than its $38 IPO price, and it lost more than half of its value in its first four months. Although the shares are now 28 percent above their IPO price, many investors believed Facebook stock was priced too high initially. Twitter's price range was lower than many analysts expected. Many market watchers believe Twitter is trying to avoid the perception that its shares are overpriced.

Associated Press
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