Twitter stock opens at US$45.10, jumps more than 90% in minutes

NEW YORK (AFP/AP) - Twitter shares leapt by nearly 90 per cent on Thursday, minutes after opening at US$45.10, in the highly anticipated Wall Street debut for the popular messaging service.

In the first trades after a US$1.8 billion public stock offering, Twitter shares jumped more than 90 per cent, briefly touching US$50.

The high price comes despite the fact that Twitter has never turned a profit in seven years of existence. Revenue has been growing, but the company is also investing heavily in more data centres and hiring more employees.