Those wanting to get a look under the hood at Twitter may be in luck this week. Sources out of the company according to Quartz say the company could go public as early as this week. The idea is to start trading as early as Thanksgiving.
Possible snags in the plan include market conditions related to Fed policy meetings, the looming government shutdown and the debt ceiling fight. Welcome to Wall Street Twitter. Fun, isn’t it?
Twitter announced its intention of an IPO through a single tweet earlier this month. Moving forward with the IPO this quickly is probably a smart move by the company. Facebook is on a tear lately, and Twitter wants to take advantage of the momentum.
Another issue looming over the stock is that it could be overshadowed by what happens with Alibaba. The Chinese tech giant will dwarf Twitter if it decides to lists in NYC, and that’s not something the backers of social networks want to see. They want their moment in the sun on CNBC and every other business network.
All they need now is the market to cooperate for them. The dovish tones coming out of the Fed speeches should bode well in regards to taper. It is Washington they have to worry about. Even if the CR passes today, it is only good for just over over a month. Then the same fight happens again.
Toss in the debt ceiling, and the market may be in for some turbulence.