Cloud company Snowflake shares surged more than 111% in its market debut on the New York Stock Exchange on Wednesday in the largest ever software IPO.
The stock began trading at $245 per share and closed at $253.93. A day earlier, Snowflake priced shares at $120, higher than the $100 to $110 range it estimated on Monday, and a huge bump from the $75 to $85 range it proposed last week.
Snowflake was worth $70.4 billion at the end of trading, more than five times its $12.4 billion valuation in February.
