Market Overview

This Day In Market History: Jack Dorsey Sends The First Tweet

Share:
This Day In Market History: Jack Dorsey Sends The First Tweet
Related TWTR
Most Americans Still Get News From Social Media, But Many Question Its Accuracy
Antitrust Investigation Of Big Tech Ordered By Trump Would 'Act As A Cover' For Election Loss, Says Height Capital Markets
Twitter: Rising Costs Aren't A Threat (Seeking Alpha)

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened?

On this day 12 years ago, the Twitter Inc (NYSE: TWTR) social media platform was launched.

Where The Market Was

The Dow finished the day at 11,235.47. The S&P 500 finished at 1,297.23. Today, the Dow is trading at 24,610.91 and the S&P 500 is trading at 2,712.92.

What Else Was Going On In The World?

In 2006, Alphabet Inc (NASDAQ: GOOG) subsidiary Google bought YouTube for $1.65 billion. Twelve U.S. coal miners died in an explosion at the Sago Mine in West Virginia. A BlackBerry Ltd (NYSE: BB) Pearl smartphone cost between $350 and $400.

Taking Social Media In A New Direction

Twitter Founder and CEO Jack Dorsey sent out his first ever tweet on March 21, 2006, officially launching a platform that would grow to become one of the most popular places for people around the world to go to share their thoughts in 140 (now 280) characters or less.

It took Twitter just seven years to grow from a single tweet to the $24 billion company that held its initial public offering in 2013. The stock’s IPO priced at $26 per share and closed its first ever trading day at $44.90.

As long-time Twitter investors know all-too-well, the company struggled to find its footing in the public market, dropping to an all-time low of $13.73 in May 2016. However, Twitter recently reported its first profitable quarter in the company’s history, and the stock is off to a great start to 2018, surging 34.7 percent to above $32.

Related Links:

This Day In Market History: Barron's Calls Dot-Com Bubble Top

Twitter Investors Sacred Off By Facebook Privacy Concerns

Posted-In: Jack Dorsey this day in market historyEducation Top Stories Markets Tech General Best of Benzinga

 

Related Articles (GOOG + BB)

View Comments and Join the Discussion!

Walmart Stays Firm In The Game, Expands Alliance With Handy

Canaccord Says Helios And Matheson Has 'Large' Revenue Opportunity With MoviePass, Sees 12M Subscribers By 2022