Snap Inc. hit the company’s initial public offering issue price of $17 for the first time Thursday. Shares were down 4.3% Thursday afternoon, and bounced back slightly to hover above the IPO price. Snap started trading on March 2. It had climbed as much as 73% above its IPO price at $29.44 in intraday trade on March 3. The highest closing price of $27.09, also on March 3, was 59% above the IPO price. Shares of Snap have fallen 18% in the past three months, while the S&P 500 has gained 2%.
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