Snapchat owners stock leaps 44 on us stock market debut

You're referring to the initial public offering (IPO) of Snap Inc., the parent company of Snapchat, on the New York Stock Exchange (NYSE) in March 2017.

On March 2, 2017, Snap Inc. went public with an IPO that raised $3.4 billion, valuing the company at around $24 billion. The company's stock, listed under the ticker symbol SNAP, debuted on the NYSE at $17 per share and closed its first day of trading at $24.48, a gain of 44% from its IPO price.

The strong debut was driven by investor enthusiasm for the company's popular social media platform, Snapchat, which had gained a large following among younger generations. The IPO was also seen as a test of the tech industry's ability to go public in a rapidly changing market.

However, it's worth noting that Snap Inc.'s stock has been volatile since its IPO, and the company has faced significant challenges in recent years, including increased competition from other social media platforms and struggles to monetize its user base. As of February 2023, Snap Inc.'s stock price is around $12 per share, down from its IPO price.