Twitter (TWTR) IPO Soars as Markets Tumble

Successful launch of latest IPO showcases contrast with troubled beginning of Facebook's stock.
5:40 | 11/07/13

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Transcript for Twitter (TWTR) IPO Soars as Markets Tumble
You're watching live coverage of the closing balance. Golden Globe awards fifty. And there it is the closing bell for this Thursday an -- percent hello everyone I'm tired and -- New York. Stocks stocks today as the street raised red flags over stronger than expected US growth. And what that might mean for fed tapering down lost 110 points in afternoon trading. -- high note though Twitter is flying on his first -- open on the New York Stock Exchange with the bank 45 dollars and ten cents a share. That's -- 73%. Increase on their 26 dollar IPO price. Now trading at around 47 dollars per share and the New York Stock Exchange now that the social media giant avoided any technical trading blunders. My competitor Facebook's botched IPO on the NASDAQ and needs 2012 itself as bringing -- -- -- reporter for techcrunch Kelly. -- -- deal on its first day. Slant pattern in England really. A lot of you're looking -- it -- after -- -- -- -- -- -- -- Nearly all its you know these. -- Dollars. -- forty it's a very strong order history here haven't Hitler's. In Facebook's mistakes what did they do right in terms of what -- -- there are. Stopping -- but doesn't act traditionally in this war technology companies ever since. One ounce -- Early I -- Twitter site -- -- that we're traditional -- for her brother that stopped yeah. And it at play here in Atlanta actually it's -- people it's like -- my parents network Caracol was around -- yes. And -- careful and -- To mystic it was clear the street is optimistic about twitters growth but what are some of the biggest challenge is going to be for -- going forward now. Aren't just any. And when their mother scenes in -- and its Italian -- Where else are you an idea Easter he EMI. And you know celebrities it people who -- in -- There. Are large here I sent an -- users -- Clear. -- you hundred million users -- not seen that -- be more than a billion. -- it gets out in this I it's really. Increase. Its -- we now hopefully. -- products. Of course -- not. -- -- not everyone was happy about -- debut while Wall Street was having a great time with it. Protesters lined up outside twitters headquarters -- testing the social media giant to share some of its well let's have a listen to that. Kelly just explain our viewers critics say 21 point 5% tax break from the city at San Francisco is unfair. And while some credit twitters headquarters for fixing up a run down -- -- protestors say low income residents were displaced to build the property. Kelly what do you make of this I mean this was the day for them that have their protest -- all eyes were on Twitter but is it's really gonna have an impact. And where each and -- -- -- in -- discounts and obviously a lot of well. Like Cheney eat there -- major problems here is well ends. -- experts -- to -- -- headquarters here traditionally an idea. Silicon Valley. Companies in the Center. City later it's -- race -- currently can't see here. And are people who -- Largely. It's showing that it I and industry it's getting I'm you know we great power comes great responsibility. EC -- it being an audience is displaying his diet and what are. -- Any industry is now or. Else I -- Individuals round -- and other meats that are doing really well -- -- -- -- -- -- and become more city reminding me that it in -- has. Right now the the RC. Says it's not completely unwarranted. I think something important something. People -- Probably aren't thinking -- And now public and it -- important than ever. For Twitter as it is now a publicly traded stock Colleen Taylor thank you so much for joining us we're gonna take one last look at the Dow it has ended the day. Down 152. Points. -- -- Hernandez in New York you've been watching. The closing bell reports David abcnews.com for Italy's --

This transcript has been automatically generated and may not be 100% accurate.

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