Economy news. Photo by:
Economy news. Photo by:

The Snapchat Stock Closed at $24.51 Per Share, Resulting with a 44% Increase

Snapchat Inc., one of the biggest tech IPO’s to enter the stock market in years, capped off an important first day with an increase from $17 per share to ending with $24.51, up 44%.

The social media, and tech company does an excellent job of trend stacking. For those unfamiliar with Snapchat, it is an application that smartphone users can download and communicate along with friends and family.

One of the recent updates is the application allowed me to layer text in a video, and edit it with a professional edge that I would normally have to have video editing software to accomplish.

The Snapchat IPO is important for several reasons:

  • This debut is the first tech IPO of the year and the largest tech deal since Alibaba went public in 2014.
  • Snapchat recently set London, United Kingdom for their international headquarters. The company is going to be a major international powerhouse for social networking.
  • The Spectacles are now available via their store for $130.00.
  • CNBC data shows that the stock experienced the increase early in the day, and held the close to the $24 mark for the remaining part of the day. For the first hour to the after hours trading has been positive.

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Snapchat IPO LIVE at the NYSE | ABC News

Snap Inc., parent company of Snapchat, makes its debut on the New York Stock Exchange.