(TWTR) took off from Wall Street and flew fast to a fabulous frenzy. The social network debuted as a public company by soaring more than 72% above its initial public offering price.
Like Amazon, Facebook and Google have become Internet Utilities, so too has Twitter. Twitter chose the best time to go public, while the stock market is surging due to the extraordinarily easy monetary policies from the Federal Reserve.
This stock closed at $44.90 on the first day of trading, giving Twitter a value of more than $31 billion and traded as high as $50.09 in the morning. Although the closing price fell 20 cents short of the opening price, it's still 73 percent above the $26 IPO price.