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#WOW! Twitter Soars In IPO

Posted at 1:28 PM, Nov 07, 2013
and last updated 2013-11-07 13:28:56-05

Twitter_homepageNEW YORK (CNNMoney) — It’s official. Wall Street #hearts Twitter. Shares of Twitter soared more than 75% from their offering price in the first hour after it began trading.

Twitter priced its initial public offering Wednesday night at $26 a share. The stock debuted at 10:49 a.m. ET on Thursday on the New York Stock Exchange, and the first trade came in at $45.10 a share.

Shares quickly jumped to a high of $50.09 — a gain of 93% over the IPO price — before dropping back to about $45.80 later in the morning.

At that price near $46 a share, Twitter (TWTR) is valued at nearly $25 billion.

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