1 Year of Snapchat IPO: Frenzy fades as shares up by $1 since going public

Snap Inc celebrated its first anniversary as a publicly traded company on Friday, but for investors it was not quite the lovefest envisioned when they bought shares in the hottest tech IPO in years.

Shares bought in the IPO have risen by a whopping dollar.

A year ago, investors rushed to buy Snap at the $17-a-share IPO price and then drove the price up by an eye-watering 44 per cent in the stock’s first day of trading.
 

The Venice, California-based company’s Snapchat social media app’s popularity with young people was viewed as a major threat to industry leader Facebook (FB.O).