LONDON, November 6, 2013 /PRNewswire/ --
IG, a world-leading CFD, spread betting and forex provider, has been running a grey market on Twitter since September 13.
Trading behaviour by IG client accounts currently indicates a market capitalisation of Twitter at around $23.65 billion* which is the mid-point between IG's latest price for the company currently 226.5 (sell) - 246.5 (buy).
Presently, 89% of IG client accounts trading on IG's Twitter grey market think the price will increase as Twitter's first day of trading on the New York Stock Exchange approaches on November 7. You can follow IG's real-time price action and the latest client sentiment here: http://www.ig.com/uk/ig-shares/twitter-market-cap-100mn
Alastair McCaig (@AMcCaig_IG), IG market strategist commented: "Valuations of privately held companies are always hard to call. In the first nine months of 2013 Twitter's revenue increased by 106% to $422 million, but losses also increased to $133 million. This latest market capitalisation valuation is derived from our clients' trading activity and while Twitter has raised its target share price this week, it still points to the shares almost doubling on the first day of trading."
For breaking news and expert opinion, keep up-to-date with the Twitter IPO here: http://www.ig.com/uk/market-news-and-analysis
NOTES TO EDITORS:
* Price correct as of 5pm (London time) 06/11/2013.
About IG Group
IG Group is a world-leading provider of financial spread betting, contracts for difference (CFDs) and forex. Founded in 1974, IG Group is an established member of the FTSE 250 with headquarters in London and offices across Europe as well as in the US, Japan, Singapore and Australia. Visit: http://www.iggroup.com.
Summary of brands in 2013
IG is now the trading name of both IG Index (spread betting) and IG Markets (CFD trading). IG's other brands continue as:
- Nadex: a retail-orientated US exchange
- FXOnline: a commission-free forex trading and CFD provider in Japan
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Spread bets and CFDs are leveraged products. Spread betting and CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.
Please contact IG analyst, Alastair McCaig, for more information on: +44-(0)7808-829-522.
SOURCE IG
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