Were investors expecting too much? Even though Twitter opened sharply higher on IPO day (shares are now up 81% to $47.06), shareholders GSV Capital (GSVC -9.5%) and the Firsthand Technology Value Fund (SVVC -7.4%) are heading south. It's worth noting many other Internet momentum plays are also selling off.
GSVC and (to a lesser extent) SVVC have been rallying due to Twitter IPO hopes. Twitter accounted for 15.1% of GSV's net asset value at the end of Q2; the company reports after the close.