What am I missing here?? This is a company that has publicly said it may never make money! Why would people trip over themselves to buy this company’s shares when they do not know if they can ever turn a profit?
So said Paul Gibson (www.global-linkages.com) in a personal email to Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and the FREE Market Intelligence Report newsletter (sample here – register here). This paragraph must be included in any article re-posting to avoid copyright infringement.]
Gibson goes on to say:
We seem to have returned to the pre-Internet bubble days when the only thing that mattered was a neat idea and a user base. Have we forgotten so quickly that the “new economics” did not work then and they will not work now. Maybe the logic is if the government can create money from nothing then companies must be able to do so too.
To my simple mind, it appears this is the sort of madness that will bring about our next recession, and not loose fiscal policy, a laggard Europe or lack of banking regulation.
(Reuters) – Twitter Inc. shares soared as much as 92 percent on their first day of trading on the New York Stock Exchange, an extraordinary debut that drove the seven-year-old company’s value to more than $25 billion and evoked comparisons to the dot-com bubble of the late 1990s.
How did they spread the word? Perhaps in 140 characters or less but it seems to have worked. Shares in Twitter ended their first day of trading in New York at $44.90 up from an initial price of $26.
Social network giant Twitter will float on the New York Stock Exchange on Thursday with a value of $14.2bn. Here is a list of the number of shares owned by some of the people and investment firms that will benefit the most from the social network’s IPO.
As Twitter makes its debut on the New York Stock Exchange, we look at its 140 most popular users and how many followers they have