Blogging site Twitter (TWTR) sets IPO prices at $26 Per Share

Blogging site Twitter (TWTR) sets IPO prices at $26 Per ShareOn Monday, Twitter (TWTR) the micro blogging site provided an IPO price range of between $23 and $25 a share, which was a raise from the previously projected price of $17 and $20.

Finally on Wednesday it decided on initial public offering at $26 a share.  This move by the company has cleared the way for investment bankers, underwriters to sell the IPO shares to clients on Thursday.

Rick Summer, senior analyst with Morningstar said, if the stock begins trading in the range of $30 ,he believes the stock would be "modestly overvalued, and investors are taking an inappropriate amount of risk at those levels."

"The IPO price and aftermarket are a reflection of supply and demand," he said. "Eventually we expect the market price to reflect its intrinsic value, but in the short-term, all bets are off."

The first shot at buying shares of Twitter will only be possible by investors on Thursday sometime after the New York Stock Exchange opens at 9:30 a. m. EST. The exact timing is not clear though. In most cases newly listed shares take time to begin actively trading on the day of their public debut. It is hoped that Twitter's debut will be smoother than that of Facebook which was on the Nasdaq last year.

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