Twitter shares soared in early trading Thursday as investors scrambled to get a piece of what they hope will be the next blockbuster social media company after Facebook, according to USA TODAY.
The paper reports Twitter and its bankers, led by Goldman Sachs' Anthony Noto, priced its IPO at $26 a share late Wednesday. The offering raises more than $2 billion and valued the business at $18.34 billion.
The shares opened at $45.10 on the New York Stock Exchange, under ticker TWTR. The stock climbed as high as $50.09 and recently changed hands at $45.03, up 73%. That values the company at more than $30 billion, which compares to Facebook's market capitalization of $120 billion and LinkedIn's $26 billion value.
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