Firsthand Technology Value Fund (SVVC) Makes Initial Investment in Twitter

May 2, 2012 8:41 AM EDT
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Firsthand Technology Value Fund, Inc. (Nasdaq: SVVC) said it has completed the purchase of 100,000 shares of Twitter, Inc. common stock for approximately $1.8 million. This is the firm's initial investment in the micro-blogging service.

Firsthand Technology Value Fund is also a large holder of Facebook (Nasdaq: FB) stock with reports suggesting the IPO for Facebook is expected o May 18.

Investors are liking the news so far, bidding the stock up 2.7% to $27.

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