The sound of the opening bell on the New York Stock Exchange on Thursday signaled the debut of Twitter's initial public offering. It will trade under the symbol TWTR, and shares have been priced at $26.
Twitter joins a hot sector of the stock market: social networks. After early struggles, Facebook stock has surged in the past few months after revealing significant growth in its mobile numbers. Shares of Facebook have more than doubled since hitting a 52-week low of $19.21 last year.
Meanwhile, LinkedIn has skyrocketed in value, with shares vaulting from $101.21 on this day last year to over $220. And the recommendations service Yelp has watched its stock nearly quadruple over the past year.
"It's a space that's has done very well in the last few months," says Global X Funds CEO Bruno del Ama.
Twitter's stock is expected to trade heavily on Thursday and over the next few days, but del Ama says the activity and the price should start to settle down.
Follow Brett Molina on Twitter: @bam923.
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