Maintain NASDAQ 4,000 this week?
-- Jack Krupansky
Financial and Economic Perspectives for the Individual Investor
Twitter's management and its bankers are happy with the IPO's outcome, according to a person with direct knowledge of their thinking. While they're not surprised the stock gained so much, because of the overhang in demand, they expect it to drop toward $30 a share during the next three weeks, this person said.
Twitter, Inc. (symbol TWTR) has priced at $26 per share and is expected to begin trading in the secondary market on Thursday, November 7, 2013. Limit orders will be accepted at approximately 7:00 AM ET on Thursday, November 7, 2013, and Market orders will be accepted when Twitter (TWTR) begins trading on the New York Stock Exchange.
(QX0055) The symbol you entered is not recognized. If you are attempting to place an order for Twitter, please note that its announced common stock offering is currently not expected to start trading in the secondary market until after market open on November 7, 2013. Limit orders may be accepted after 7:00 am ET on November 7, 2013 but market orders are not eligible until the security starts to trade in the secondary market.
November 6, at 4 PM ET - We begin accepting limit orders for Twitter.November 7, on or after the market open – Once trading begins on the secondary market, we will accept all order types.
Twitter's Inc.'s initial public offering is likely to price at $25 to $28 a share, according to fund managers briefed by Goldman Sachs Group Inc. and Morgan Stanley bankers, two of the banks underwriting the deal.
Thanks to the strong demand for its stock, Twitter is planning to close the order books for its I.P.O. on Tuesday at noon, a day earlier than scheduled, according to people familiar with the matter.
Twitter still plans to price on Wednesday and begin trading on Thursday.
What Twitter's IPO means