Snapchat Parent To Begin Trading On The New York Stock Exchange Thursday

Snap is the California-based company behind the popular self-destructing pictures and video app, Snapchat.

Snap has had to convince potential investors that it won't have the same trajectory as Twitter has, a company that has been struggling constantly ever since its IPO, despite massive optimism shown both by the company and investors.

Another IPO-focused ETF, First Trust U.S. Equity Opportunities (FPX), tracks a market-cap-weighted index of the 100 largest and most liquid U.S. IPOs.

Snap priced at $17 yesterday, giving it a valuation of almost $24 billion.

Those who remember the hype when Alibaba priced its initial public offering of stock in 2014 will get to relive that excitement Wednesday when Snap does the same.

Facebook shares, on the other hand, are 259% higher since their first day of trading - the company proving doubters wrong in the crucial area of mobile advertising revenue.

With Snap Inc. riding a successful IPO this week, company executives likely are calculating what to do with the money that's pouring in.

Odds Are Stacked Against The Australian Cricket Team
Mitchell Marsh is set to play the first Test, with the fast bowling all-rounder expected to be picked ahead of Glenn Maxwell. It should mean Jayant Yadav will come back into the side at the expense of either Bhuvneshwar Kumar or Ishant Sharma.

But the first Wall Street analyst to issue a rating on the stock says Snap shares should have moved about 50% in the opposite direction from Thursday morning's initial price of $17. However, at least one analyst - Pivotal Research Group's Brian Wieser - rated the company a "sell" with a $10 stock price target.

That places a current valuation of Snap at $28bn, with Evan Spiegel and co-founder Bobby Murphy's holdings worth about $5bn each.

Its user base of over 150 million selfie-snapping millennials.

Launched in 2011, Snapchat now has 158 million daily users.

In what was perhaps a subtle nod to his detractors, Snap CEO Evan Spiegel told the Los Angeles Times that it would take an "education process for the next five years", to properly explain to the general public how his company creates value. Furthermore, DiClemente noted that "upside in [SNAP] shares is limited" by a number of factors, which includes competition from rivals and Snap's decline in daily active user growth.

In its public filings, and on its corporate website, Snap refers to itself as "a camera company".

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