The Twitter flotation got a lot of press this week.
They floated at $26 a share, with 505 million shares in circulation leading to a market cap of $13.1 bn.
There was lots of interest in the shares and they rose above $50, and now stand at $41. That's a market cap of around $20 bn.
It's a very popular service, I can't deny that - and it has tentacles into all media outlets - as they have been suckers for feeling the need for a presence on it. Especially individuals of media who feel the need to self promote (despite the obvious danger of an ill judged tweet ending your career).
But this service has never made a profit, has yet to work out an advertising strategy - and could easily be replaced by a newer more trendy upstart.
I was dubious about Facebook - this is just crazy...
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