The initial public offering for social network Twitter could go public as early as this week.
According to Quartz, which cites "someone familiar with the plan," Twitter will makes its IPO available for public view this week, with plans to start trading on the New York Stock Exchange by Thanksgiving.
The report says Twitter's arrival on Wall Street could be delayed for several reasons, including the market environment and the possibility of a U.S. government shutdown.
Earlier this month, the company revealed through a single tweet that it had filed its IPO, which could be among the biggest stock offerings in tech. Because Twitter makes less than $1 billion in annual revenue, the company was able to file privately through the Jumpstart Our Business Startups (JOBS) Act.
The IPO has been reportedly valued between $9-$14 billion.
Meanwhile, BlackBerry shares continue to get hammered in pre-market trading Monday after reporting a massive loss during the second quarter.
The company reported a net loss of $965 million during the quarter, a huge decline from the $229 million loss posted at the same time last year.
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| Twitter's logo on a computer screen in London in September 2011.(Photo: Leon Neal, AFP/Getty Images) |
BlackBerry has struggled to sell its latest lineup of smartphones, prompting the company to explore a potential sale. Last week, the company announced a tentative acquisition deal with Fairfax Financial Holdings valued at $4.7 billion.
Courtesy: USAtoday
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