Markets Press
Search

Markets

TWTR Stocks are a Huge Success, According to Trial Run Over Weekend on the NYSE


TWTRUnlike Facebook’s failed attempt to conquer the stock market last year, Twitter’s test run on the New York Stock Exchange was deemed a success.

Although the NYSE conducts its testing on weekends, this was the first time a test Initial Public Offering (IPO) of shares was done by the exchange.

Last Saturday, the NYSE staff came together with traders from member firms to operate simulated buy and sell orders and assess how the flow of these orders will go once they are made public. Before November of this year ends, shares of Twitter is expected to be sold in the market.

NYSE spokeswoman Marissa Arnold said they are being methodical in planning the IPO for Twitter. “We are working together with the industry to ensure a world-class experience for Twitter, retail investors and all market participants,” Arnold added.

Twitter is set to be the largest technology-related IPO since Facebook went public two years ago but was deemed a failure. Back then, Nasdaq won the social networking site’s listing, one of the largest flotations in recent years. While Nasdaq got Facebook’s listings, the social networking site was hit with order failures and delays in its trading.

Nasdaq was later fined by the Securities and Exchange Commission $10 million, the biggest amount fined against an exchange.
Meanwhile, Twitter is expected to sell 70 million shares that will range between $17 and 20$ each. This will equate to a valuation amount of $1.6 billion. Shares of Twitter will trade under the code TWTR.


Related Posts

Leave a reply

Your email address will not be published. Required fields are marked *

*

Trending…
  • Halving and Chinese Buyers put Bitcoin at Two Year High
  • Xbox 360 Console Discontinued by Microsoft
  • Sony to Launch Mobile Answer to PlayStation
  • What Top Tech Leaders are Saying about the FBI-Apple Dispute
  • 100 Atari Games will be Available through Steam
  • Microsoft 2015 Year in Review
  • LiFi to Revolutionize the Internet
  • Facebook Employees Experience Web Surfing Like their Customers in Emerging Markets
Markets Press News
Markets Press News and Media Company 111 Congress Avenue #400 Austin, TX 78701, United States Phone: (512) 279-7800

Contact Us / Phone Us

  • Support:512-279-7800
  • Events:512-279-7800 Ext 2
  • Media:512-279-7800 Ext 3
  • Legal:512-279-7800 Ext 4
  • Community:512-279-7800 Ext 5
  • Sales:512-279-7800 Ext 7