Social media is officially going public with Twitter taking IPO status in a hunt to raise $1 billion via public offering. Twitter has chosen TWTR as its ticker symbol but hasn’t specified whether it will trade on the New York Stock Exchange or Nasdaq Stock Market when it finally opens.
Though the company which has been home to breaking news sometimes direct from the source, the site which has grown dramatically in it’s seven years boasting 215 million monthly active users who churn out more than 500 million messages each day. Even with their active users ship which Twitter has openly admitted is slowly declining, and their failure to generate a real profit– other than charging for sponsored tweets, this startup is having a heck of a time turning the massive amount of returning traffic into cold hard profit. This is turning out to be one of the hottest tech stocks to open on Wall Street since Facebook, and we all know how well that did!
What do you think of the Twitter stock, do you think it’ll open and bust or do well on the market?
SOURCE: WS Journal