Twitter CEO Dick Costolo, center, and Mike Gupta, chief financial officer of Twitter on the floor of the New York Stock Exchange. AP
NEW YORK — Twitter’s stock is retreating on its second trading day after the popular short messaging service saw a huge first-day pop in what turned out to be a smooth public debut.
Such volatile trading is common for freshly public stocks as investors gauge supply and demand with limited insight into how well the companies will do on the long run.
Twitter’s stock is down 4.2 percent to $43 in late morning trading despite an uptick in the broader market.
The stock had surged on Thursday, its first day trading, closing 73 percent higher than the $26 IPO price that was set on Wednesday night.
RELATED STORIES:
Twitter hikes IPO share price range
Twitter key source for ‘mobile’ news: survey