This page has been archived and is no longer updated. Find out more about page archiving.

Last updated at 13:49 GMT, Friday, 08 November 2013

Twitter shares jump

Summary

8 November 2013

Shares in the microblogging site, Twitter, have nearly doubled in value in the first few hours of trading on the New York Stock Exchange. The share price rose above $45, valuing the company at more than $25bn.

Reporter:

Mark Gregory

Twitter

Listen

Click to hear the report

Report

It will go down as one of the most spectacular debuts in the history of financial markets.

Twitter has only been around seven years, has never made a profit and has modest sources of income - yet its shares rose 80% in value the moment it joined the stock market, and then briefly soared even higher than that.

Measured by the stock price in relation to revenues, Twitter's shares are now rated as among the most expensive of any new share issue ever.

It's a big bet that popularity - Twitter already has 230 million users - will eventually lead to massive profits.

Listen

Click here to hear the vocabulary

Grammar

go down

become known

debuts

first appearances; (here) launches

profit

money earned after costs are paid

modest

few and small

sources of income

people or organisations which it gets money from

soared

rose very quickly and very highly

revenue

money which is received regularly