Valuing Snap After the IPO Quiet Period (A)
"On March 2, 2017, Snap Inc., the disappearing message app, went public at $17.00 per share on the New York Stock Exchange (NYSE). According to The Wall Street Journal, “investors clamored for a piece of the fast-growing social network,” causing the price to surge and eventually close at $24.48, up 44% on the day.1 At that price, the firm had a market capitalization of $34 billion and its two 20-something founders, Bobby Murphy and Evan Spiegel, became the youngest self-made billionaires in the country to own a public company.2 Over the next three weeks, Snap traded as low as $19 and as high as $27, and closed at $22.74 on Friday, March 24. During this time, 14 analysts made investment recommendations on Snap: two with buy recommendations, six with holds, and six with sells."
- 2018 President and Fellows of Harvard College
- Book Quality:
- Harvard Business School Publishng
- Date of Addition:
- Business and Finance,
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- This is a copyrighted book.
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