Twitter Rides 140 Characters to $32B Valuation

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Nov. 7 (Bloomberg) -- Bloomberg West Editor-At-Large Cory Johnson examines Twitter’s valuation on its first day of trading on the NYSE and whether or not the company left money on the table with its offering price. He speaks on Bloomberg Television’s “Bloomberg West.”

They're outside twitter headquarters?

Any employees celebrating?

I did not see champagne corks popping or people throwing dollars off the roof behind me.

It is sort of amazing that this little business at the top several floors of the building behind me is now valued by the markets as $32 billion.

Simply incredible.

Results might justify optimism.

The market is seeing a lot more than what we are seeing behind me.

The evaluation am a for context, i did a scan of all the public markets in the u.s. this morning look all the stocks traded, there are only a handful of stocks with a price to sales ratio of of 50. the stock above 52 times revenues right now, far above every other technology company out there.

This is one of the most important stocks in all of the markets on price to sales ratio.

Simply an amazing thing.

The markets have put so much trust in this business.

How much money did twitter really leave on the table?

The opening prices much higher than the price from last night.

Some people said if they went too far, people would have thought it was overpriced.

Look, this is always the argument.

There is no winning in this situation.

There is no sort of perfect number unless the stock opens flat at the offering rice and closes flat and stays there a while.

We hardly ever see that.

It is important to put this into context of what they could have done.

They only sold 10% of the total shares outstanding.

About 13% of the basic shares they could have offered.

They could have offered a lot more stock for sale.

A managed -- the big game is when they come out with a secondary offering, which could be at any time.

Zynga with public in december and by february they had a secondary offering.

Employees in the company were locked up and unable to sell in the market.

The notion of them leaving money on the table is suggesting that the meal is over.

This is just the appetizer.

We have to wait for the entree.

I like that analogy.

Cory johnson at twitter

This text has been automatically generated. It may not be 100% accurate.

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