I will never understand stock prices. Twitter went public on Thursday and the stock price went way up. Not bad for a company that has never turned a profit. Not ever. Not even one dime!
Twitter went to great pains to not repeat the mistakes that Facebook made and, at least at this point, that may be paying off.
Of course why anyone would want to invest money in a social media company like Twitter is way beyond me. However there must be thousands of people with lots and lots of money to gamble who can’t wait to get in on the latest investing fad.
I am reminded of the great dot.com bubble of the late ‘90s. Tech stocks were grossly overvalued and finally the bottom fell out of the inflated market. Will the same thing happen again? Probably. It always has in the past.
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