Category: Companies / November 7, 2013 1:50 PM EST
Twitter Inc. (NYSE: TWTR) soared in its market debut on Thursday as the stock opened at $45.10, up over 70 percent from the $26 IPO price set on Wednesday evening. Doreen Mogavero, Founder of Mogavero Lee & Co., weighs in on the initial public offering and why the New York Stock Exchange is the "proactive choice" for the social media company.
The estimated offering price range was originally $23-$25 per share, up from a previous $17-$20 per share range; however, on Wednesday evening Twitter's underwriters priced its stock at $26 per share on strong market momentum.
In afternoon trading, shares of twitter jumped 76.73 percent to $45.95 on Thursday.