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For the last 20 years the NASDAQ has been the natural home for the majority of newly floated technology stocks, but in the last couple of years the NYSE has made efforts to reverse this trend. Recent successes include LinkedIn and Yelp, and now Twitter will be added to that list. While the NASDAQ did secure Facebook, its launch day ended up a spectacular disaster after the trading platform crashed.
IG has been offering a grey market on Twitter’s market capitalisation at the end of the first day of unconditional trading for over a month now. Client-driven trading has seen this value rise from the market’s originally perceived value of between $10 and $12 billion to the current levels of $20.5-$22.5 billion.
Using current fillings as a guideline it is likely that we will see Twitter float around the middle of November. At first look this premium may look overly generous, but Royal Mail’s completed listing on the London Stock Exchange has highlighted the enormous hunger for IPO investments.
These two companies are at different stages of their growth cycle of course, and unlike Royal Mail, Twitter is unlikely to be offering dividends any time soon. However, as Twitter is a social network, it will certainly help when it comes to generating its own publicity.