Snapchat soars again on second day of trading

Traders work on the floor during the Snap Inc. IPO at the New York Stock Exchange, March 2, 2017, in New York.
Snapchat surged in its debut trade Thursday, jumping more than 40 percent from the level set in the initial public offering Wednesday night. / AFP PHOTO / Bryan R. Smith        (Photo credit should read BRYAN R. SMITH/AFP/Getty Images) Snap Inc., the parent of Snapchat, has been off to the races with its debut on the stock market.
Yesterday, the stock closed at $24.48, a 44% gain from the IPO price of $17. And today it’s gone up a bit further, surpassing $29 at one point, an almost 20% increase from the close of yesterday. Shares later fell to $27, but it’s still on track for a 10% gain for day two.
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