Twitter had an impressive IPO launch day, exceeding its set share price by 73 percent in opening transactions.
Reaching a high of $50.09, Twitter stock is currently trading above $44 in after hours.
Helping to drive up the price, on Wednesday evening demand from investors was 30 times higher than the number of shares available.
At its current price, Twitter is valued at nearly $24.5 billion, an over $6 billion higher valuation when compared to the social network’s set share price of $26.
To kick off the IPO, actor Patrick Stewart and two other special guests were brought along to ring the opening bell at the New York Stock Exchange:
— (NYX) NYSE Euronext (@NYSEEuronext) November 7, 2013
The original creator of the Twitter fail whale Yiying Lu showed her support for such a big day by creating the IPO Hippo.
— Yiying Lu (@YiyingLu) November 7, 2013