Twitter‘s share price has risen by more than 75% on the company’s first morning of trading in New York.
The social networking site, which started trading at 1430 GMT under the ticker symbol TWTR, had set a price of $26 (£16) for its public stock offering.
However, in a sign that investors are willing to bet on potential growth at the company, the price leapt to more than $45.70 within three hours – a rise of 75.7%.
It had climbed as high as $50.09, in contrast to shares in other technology companies which were broadly down.
The New York Stock Exchange opened to a packed floor of traders and journalists, eager to see how the company would fair in its first few hours of trading.
Earlier, some of Twitter’s users, including Star Trek actor Sir Patrick Stewart, were given the opportunity to ring the opening bell instead of executives.
The company also sent a tweet to mark the occasion, posting: “#Ring!”
Twitter’s original price valued the San Francisco-based firm at more than $18bn (£11.2bn), based on its outstanding stock, options and restricted stock expected to be available after the initial public offering (IPO).
It initially offered 70 million shares, with an option to buy another 10.5 million.
Twitter’s stock market debut is the biggest of any technology firm since Facebook went public in 2012.
The company boasts 230 million global users, including heads of state and celebrities.
However, the company lost $65m (£40m) in its most recent quarter and questions remain about its long-term prospects.
Twitter had initially set a price range of $17 (£10.57) to $20 (£12.44) but raised the range on Monday signalling an enthusiastic response from prospective investors.
Twitter's Share Price Soars On Opening Day
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