Twitter’s launch recalls days of dot-com bubble

Twitter soared as much as 92% in its first day of trading yesterday on the New York Stock Exchange as investors snapped up shares in the popular microblogging site in a frenzy that recalled the days of the dot-com bubble.

The shares opened at $45.10, up from the initial public offering price of $26 set on Wednesday, then added to those gains, hitting a high of $50.

Sources said the flotation drew strong demand, with investors asking for 30 times the number of shares on offer as they bet on potential growth at the money-losing social media company.