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Fri 08 Nov, 2013

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Twitter shares soar on Wall Street debut

Twitter's share price has almost doubled in its first day of trading on the New York Stock Exchange, shooting up more than 90 per cent in early trade, to as high as $US50 ($52.90).

The key Twitter founders attended the opening on the New York Stock Exchange, along with Star Trek actor Patrick Stewart and a nine-year-old girl who operates a lemonade stand.

At 11:30am local time, the shares were still up 74 per cent at $US45.27 from the initial public offering price of $US26 per share set on Wednesday.

Some analysts had cautioned about the fast-changing nature of social media, but the debut led to a stampede for the microblogging site, known for its one-to-many messages of up to 140 characters.

Twitter's launch as a publicly listed company is the biggest technology listing since Facebook in 2012.

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The Drum

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When grave facts and political calculation collide

As former prime minister John Howard revealed in his speech on global warming, we have departed from the evidence into a realm propelled purely by political necessity.

By this relentless political logic, it can only be a matter of time before we have a group of politicians who fully accept the truth of climate science and the dire possibilities that it entails, then act against the dictates of that scientific certainty for narrow short-term advantage.

That would be a high point in modern politics, a moment that might achieve a blissful state of near political perfection and something close to outright evil.

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Just In

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European court rules homosexuals facing persecution can seek asylum in the EU

The European Court of Justice (ECJ) has ruled that homosexuals who are at genuine risk of legal persecution do have grounds to claim asylum in the European Union.

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World

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European court rules homosexuals facing persecution can seek asylum in the EU

The European Court of Justice (ECJ) has ruled that homosexuals who are at genuine risk of legal persecution do have grounds to claim asylum in the European Union.

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Business

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GrainCorp boss plays down concerns over possible foreign takeover

The head of GrainCorp has warned against turning down foreign investment in Australia's agricultural sector.

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Politics

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European court rules homosexuals facing persecution can seek asylum in the EU

The European Court of Justice (ECJ) has ruled that homosexuals who are at genuine risk of legal persecution do have grounds to claim asylum in the European Union.

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Sport

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Wallabies send complaint to IRB ahead of Italy Test

Ewen McKenzie has complained to the IRB about refereeing bias as he named a shuffled forward pack for the Italy Test.

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Science and Technology

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Greens challenge charitable status of anti-wind farm group

One of Australia's most influential anti-wind farm lobbies is confident it will keep its charity status, despite a potential investigation by the Australian Taxation Office.

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Environment

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Greens challenge charitable status of anti-wind farm group

One of Australia's most influential anti-wind farm lobbies is confident it will keep its charity status, despite a potential investigation by the Australian Taxation Office.

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