Just when Twitter briefly dipped in bear market territory from its post IPO highs, and threatened to wipe out the retail mania of 2013 (very much as FaceBook did in 2012), here comes the hail mary to provide the most anticipated IPO of the year its second wind. Of course, how inclusion in the Wilshire 5000 will boost TWTR profitability, remains a mystery.
Twitter to be Added to the Wilshire 5000 After Market Close on Friday, November 15
Rules-Based Index Provides for Inclusion Seven Trading Days After IPO
Only seven trading days after completing its initial public offering (IPO), Twitter Inc. (NYSE:TWTR) will be added to the Wilshire 5000 Total Market Index(SM)effective after the markets close on Friday, November 15, 2013, according to Wilshire Associates Incorporated (Wilshire(R)), a diversified global financial services firm. The inclusion will be in conjunction with the regular monthly additions and deletions of the Wilshire 5000(R).
“From its inception in 1974, the intent always has been for the Wilshire 5000 Total Market Index to be the most complete and investable measure of the total U.S. equity market,” noted Robert J. Waid, managing director. “As a rules-based index, the Wilshire 5000 does not need to make special accommodations for early entry of large IPOs, like Twitter, as stock additions always have been made monthly for U.S. companies with readily available price data. The Twitter IPO is no exception,” he concluded.
Other securities to be added next week include The Container Store Group Inc. and Burlington Stores, Inc.
The Wilshire 5000, the original pure and complete(SM) measure of the U.S. stock market, was developed in 1974 by Dennis A. Tito, chairman and chief executive officer of Wilshire. The Wilshire 5000 is widely considered the best way to track the U.S. equities market and estimate market value changes. The Wilshire 5000 Total Market exchange-traded fund (NYSE Arca:WFVK) is the only ETF based upon the Wilshire 5000.
via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/8OwhViJRMpU/story01.htm Tyler Durden