Twitter opens sharply higher, pares gains

|By:, SA News Editor

Even on what's normally a quiet day for equities, Twitter (TWTR +1.5%) gapped sharply higher, but has quickly retraced its steps a bit. The microblogging platform's market cap briefly surpassed $50B, after factoring options and RSUs,

At current levels, Twitter trades at 44x 2014E sales. The company is worth ~30% more than VMware, nearly twice as much as LinkedIn and Corning, and almost 3x as much as Seagate and Sony.

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Update (1:25PM ET): Shares are off to the races again; they're currently up 6.1%.