Snapchat parent Snap, Inc. shares zoomed 41% above their IPO price on Thursday. WSJ's Miriam Gottfried and Tanya Rivero discuss how high shares are likely to go as well as lingering investor skepticism about the social media app. Photo: ReutersSnap Inc. shares surged on their first day of trading Thursday as investors sought a piece of the biggest technology initial public offering in the U.S. since Alibaba Group Holding Ltd. made its debut in 2014. Shares of Snap opened at $24, above the IPO price of $17, and recently traded at $25.97, three cents shy of its intraday high. The opening price valued the parent of the popular disappearing-message app Snapchat at more than...

Source: Wall Street Journal March 02, 2017 16:22 UTC