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So much for a smooth flight: Twitter’s public debut hit some turbulence on day two.
The much-hyped Wall Street offering started Thursday, after Twitter lined up investors to sell 70 million shares at $26 a piece. Shares jumped in the opening minutes of trading to as high as $50, but that was as good as it gets.
Today, shares slipped to $41.65, proving yet again that IPOs are a tough play for regular investors who don’t get early access to shares at their opening price the way banking insiders do.
Anyone who bought shares through their brokers and online yesterday are sitting on a loss.