Snapchat jumps about 40% in opening trade on Wall Street

 

Instant messaging service Snapchat surged in its debut trade Thursday, jumping more than 40 percent from the level set in the initial public offering Wednesday night.

Snapchat, trading under the ticker "SNAP" on the New York Stock Exchange, surged about 45.1 percent to $24.69 after the IPO raised $3.4 billion by pricing the service $17 a share.

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