Wednesday, November 06, 2013

No new news on Twitter IPO

It is oddly quiet on the Twitter IPO front – no new news over the past day. The IPO order book was supposed to close at noon on Tuesday. I assume that happened, but there has been no news or confirmation.
 
I am a bit worried since my broker has taken the Twitter announcement off their IPO list, but that may just be because they are no longer accepting indications of interest. Or, maybe, it might mean that the firm did not get any allocation of Twitter. I have no way of knowing which, for now. I'll given them a call this morning.
 
The big event for today is final pricing of the IPO, which will happen sometime after the market closes today, Wednesday, November 6, 2013.
 
Assuming my broker got an allocation, I would still have to sit next to the phone from 4 PM to midnight waiting for their call to confirm any allocation that I might get. They won't be able to decide whether I get an allocation until after Twitter's underwriters set the final pricing and allocations to brokers and then the people ahead of me on my broker's list have made their final decisions on their indications. It might be messy since the price range was raised by 25% since we made our initial indications of interest.
 
Whether or not I get an allocation in the IPO, I'll probably buy a modest position at the open in my retirement account, and then add to that position on any 15% dips in the coming months.

-- Jack Krupansky

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