Nightly News   |  November 07, 2013

Wall Street goes wild for Twitter

Shares of the newly public company nearly doubled within minutes, making it more valuable than the likes of Macy’s and three times the value of Tiffany. NBC’s Carl Quintanilla reports.

Share This:

This content comes from Closed Captioning that was broadcast along with this program.

>>> now to what we witnessed on the stock market as twitter stock went public and buyers followed. the initial public offering for stock shares soared from $26 to almost $45. not even eight years old, twitter has changed the way information travels around our globe. we get our report tonight from cnbc's carl quintanilla .

>> reporter: wall street went wild for twitter today, sending shares of the newly public company to nearly double within minutes, making it more valuable than the likes of macy's, three times the value of tiffany.

>> if there is one thing everybody in the company believes, we all have examples in our lives of why this service could be useful and valuable to every person on the planet.

>> reporter: already twitter has more than 230 million users around the world. 76% of them on mobile devices . a whopping 500 million tweets are sent each day. some breaking news like helicopter hovering above abottomobad. a tweet about the osama bin laden raid hours before the world knew. politicians use it as a regular tool now, a way to talk to the public. twitter is a busy universe where tweets from the famous to the anonymous are exchanged all the time like this from pope francis thanking his followers.

>> i check it every day. probably too much.

>> reporter: twitter's popularity and how it's changed the way we communicate hasn't yet translated into making money .

>> it will absolutely make money. it definitely can make money. the question is how much money can it make?

>> reporter: the way twitter makes money now is via sponsored tweets and trends promoted on the home page .

>> twitter will make new announcements about revolutionary new partnerships, products and acquisitions. it will be a battle of whether you can keep the dream alive . it will be a difficult battle.

>> reporter: as powerful as twitter is, we may not know for years if it makes money because it's plowing cash back into the business to get more users. this is a high risk business the tech companies are in. brian, as we have seen, a lot of internet companies debut big but eventually get lost and fade away.

>> we are happy letting others take the risk. carl quintanilla , thank you very much for being with us.