How will Twitter close on its first day of trade?
With just days left before Twitter debuts on the New York Stock Exchange on Thursday, sentiment is becoming increasingly bullish.
On Monday, Twitter said it was boosting the price range of its IPO to $23 to $25 per share from an earlier range of $17 to $20 per share. It intends to sell 70 million shares. Sources with knowledge of the share launch told Reuters Monday that Twitter was set to close the books on its $1.75 billion initial public offering a day earlier than scheduled, on Tuesday at 12:00 p.m. EST amid strong investor demand for shares.
Hedge-fund manager and President of Seabreeze Partners Management Doug Kass said last week that "it is my view that Twitter's shares will likely double in the first month of trading—or maybe sooner."
The bullish mood comes after the social media company doubled its revenue in the third quarter to $168 million but reported a wider loss due to rising costs. It has never made a profit.
(Read more: Full coverage of the Twitter IPO here)
It remains to be seen whether all of this momentum will translate into a sustained stock rally. Tell us, how do you expect Twitter to end its first day of trade?
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