Thursday, March 2, 2017

Snap Sees IPO Pop, Surges To Over $25.00 Per Share In Early Trading

Venice-based Snap Inc. had a huge debut on the New York Stock Exchange (NYSE) on Thursday, as it started trading as SNAP, surging above $25.00 per share in early morning trading--up more than 43%. The company--which priced at $17.00 per share last night--opened at $23.71 per share, and was heading up with only a few minutes on the trading day. The early pop in its shares pushes the net worth of Eval Spiegel and Bobby Murphy to more than $5.0 billion each. Snap, the parent company of Snapchat, is now the largest ever IPO to debut out of Southern California's high tech ecosystem.

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