Snap Pops At Market Open To $24, Valuing Company At $33 Billion

Shares of Snap Inc., maker of the popular messaging app Snapchat, began trading on Thursday at $24 per share on the New York Stock Exchange under the ticker SNAP, giving the company a market cap of about $33 billion. The stock opened 41% above the shares’ pricing Wednesday night of $17 apiece.

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Will Snapchat Capture Investors Like Facebook Or Follow Twitter’s Disappearing Act?

Amid current bullishness in US and global equity markets, Snap’s shares were set to begin trading today on the New York Stock Exchange at $17 a pop and expected to fly. It seems reminiscent of the dotcom bubble, but could Snap be different even at a $24bn market capitalization, valued at 61x sales?

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