Wall Street says it is shortly after the social media company went public this morning. Twitter’s valued at $24.6B with its stock price hovering around $46 a share. That makes it less valuable than Discovery Communications ($30.2B) — but more valuable than Dish Network ($22.3B), SiriusXM ($22.2B), and Netflix ($19.5B). It’s also way ahead of big names in traditional media including Liberty ($18.5B), Sony ($17.2B), and News Corp ($10.0B). Investors still put a higher value on new media companies including Yahoo ($34.6B) and Facebook ($117.3B). Twitter’s valuation is already too rich for Pivotal Research Group’s Brian Wieser — who appears to have been the first analyst to downgrade the company to “sell” from “buy” today based on the 75%+ jump in its price following the IPO at $26 a share. “Twitter is simply too expensive” after it passed the high 30s, he says.
Is Twitter More Valuable Than Dish Network, SiriusXM, Or Netflix?
What's Hot on Deadline
Latest Business News
- SAG-AFTRA Greenlights ‘Heaven Sent’ On Fox Despite Safety Concerns
- ‘Jason Bourne’ Targets $60M+; ‘Bad Moms’ Gets Sassy With $2.65M; ‘Nerve’ Holds Steady – Box Office…
- Vin Diesel Officially Passes 100M On Facebook But Females Are Top 2016 Social Media Stars
- DOJ Red Granite Case: Justice Drops Subpoena On Goldman Sachs
- Delaware Judge Clears Way For Sumner Redstone Exam In Challenge To Viacom Board
- Sony Pictures Division Hit By Losses In Quarterly Earnings