Twitter took flight Thursday in an impressive initial public offering that valued the company at $24.48 billion. Friday, the company's wings were clipped a bit as shares fell more than 7 percent.
Seven-year-old Twitter's IPO could be characterized by its anti-Facebook qualities. The smaller social network priced its shares at $26 apiece, opened with a healthy 73 percent pop at $45.10, then closed the day at $44.95. Clearly, investors were willing to give Twitter a pass on its money-losing business.
But Wall Street types, as usual, proved to be a fickle bunch. Though Twitter opened … Read more