independent

Friday 18 April 2014

Twitter stock slides on second day

Twitter shares have slipped back in early trading

Twitter's stock is retreating on its second trading day after the popular short messaging service saw a huge first-day surge in what turned out to be a smooth public debut.

Such volatile trading is common for freshly public stocks as investors gauge supply and demand with limited insight into how well the companies will do on the long run.

Twitter's stock is down 4.2% to 43 dollars (£27) in late morning trading in New York despite an upturn in the broader market.

The stock had surged on Thursday, its first day trading, closing 73% higher than the 26 dollars (£16) IPO price that was set on Wednesday night.

AP

Press Association

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