Snapchat Parent Rockets Higher In Wall Street Debut

NEW YORK (AP) — The company behind Snapchat is trading sharply higher in its Wall Street debut, proof, at least for a day, that there’s investor demand for young but still unproven tech companies.
Shares of Snap Inc. jumped $8.21, or 48 percent, to $25.21 a share in afternoon trading on Thursday.
The company had priced its initial public offering of 200 million shares at $17 each on Wednesday. That was above the expected range of $14 to $16.
Snap’s IPO was one of the most antic