Twitter shares soar to $50 on stock market debut

Twitter shares have soared 90% from their IPO price on the company's first day of trading, with the stock hitting a peak above $50.

Having been valued at a float price of just $26, the shares rocketed immediately after listing this afternoon, jumping to a peak of $50.09. They are currently up 82% at $47.21. In total the social media giant made 70 million shares available, with the offer 30 times oversubscribed. Twitter boasts over 230m users worldwide but has yet to make a profit since its launch seven years ago. The launch is the biggest technology IPO since Facebook's in May last year. Facebook's IPO turned into a nightmare for the group after issues with the listing caused the price to plummet. Faceboo...