Snap上市首日股价飙升

 　　The US broke its long drought of large technology initial public offerings on Thursday as shares in Snap soared more than 40 per cent in their market debut¹ despite questions about corporate² governance and profitability at the owner of vanishing messaging service Snapchat.

　　美国周四结束了很久没有大型科技公司首次公开发行(IPO)的局面。Snap的股票在上市首日飙升44%，尽管人们对阅后即焚服务Snapchat所有者的公司治理和盈利能力存在疑问。

　　A pack of traders huddled³ around the desk of Snap’s designated market maker⁴ for more than an hour after the opening bell at the New York Stock Exchange to strike the opening price, when cheers rang out across the floor. The IPO was priced at $17, above the indicated range of $14 to $16, with the shares opening at $24.

　　纽交所(NYSE)开盘后报出开盘价时，交易大厅里响起了欢呼声。随后的1个多小时里，一群交易员围拢在Snap指定做市商的办公桌周围。IPO定价为17美元，高于14美元至16美元的指导价区间，而开盘价为24美元。

　　Shares rose above $25 in afternoon trading, valuing the group at close to $30bn.

　　最终，Snap股价以24.48美元报收，公司估值接近290亿美元。

　　At that valuation Snap is worth two and a half times social media rival Twitter, and about the same as food manufacturer Kellogg, video games maker Electronic Arts and electronics company Panasonic. But it is dwarfed⁵ by its two main rivals for advertising⁶ dollars: Google, at $590bn, and Facebook, at $400bn.

　　Snap的这一估值是社交媒体对手Twitter的2.5倍，跟食品生产商家乐氏(Kellogg's)、电子游戏发行商电子艺界(Electronic Arts)和电子产品公司松下(Panasonic)相当，但在Snap在与其争夺广告支出的两大对手谷歌(Google)和Facebook面前相形见绌。谷歌与Facebook的估值分别为5900亿美元和4000亿美元。

　　Some 75m Snap shares traded hands at 11.35am New York time, when it began trading, the highest volume of any stock worth more than $50m on US exchanges, according to data from Bloomberg.

　　彭博(Bloomberg)数据显示，截至纽约时间上午11点35分，Snap股票交易量已达到约7500万股，是美国交易所估值高于5000万美元的上市公司中最高的。

　　The enthusiasm came despite the decision by some portfolio⁷ managers to shun⁸ the stock over concerns about the company’s decision to issue shares with no voting rights, a first in the US, and to ensure control for the co-founders even if they leave the company.

　　投资热情高涨的背景是，一些投资组合经理决定避开该股，原因是担忧该公司决定发行无投票权的股票。这是美国首次发行不附带投票权的股票，此举为共同创始人确保了控制权，即使他们离开公司也是如此。

　　In addition, some analysts⁹ questioned whether an app with no profits and fierce competition from other social media groups warranted such a lofty valuation. Last year the company recorded a net loss of $515m, up from $373m in 2015, on revenue of $405m.

　　此外，一些分析师质疑，一个没有利润且面对来自其他社交媒体集团激烈竞争的App，是否配得上如此高的估值？去年，该公司实现营收4.05亿美元，而净亏损为5.15亿美元，较2015年3.73亿美元的净亏损有所增加。

1 debut   

n.首次演出，初次露面

参考例句：

• That same year he made his Broadway debut, playing a suave radio journalist.在那同一年里，他初次在百老汇登台，扮演一个温文而雅的电台记者。
• The actress made her debut in the new comedy.这位演员在那出新喜剧中首次登台演出。

2 corporate   

adj.共同的，全体的；公司的，企业的

参考例句：

• This is our corporate responsibility.这是我们共同的责任。
• His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。

3 huddled   

挤在一起（huddle的过去式与过去分词形式）

参考例句：

• We huddled together for warmth. 我们挤在一块取暖。
• We huddled together to keep warm. 我们挤在一起来保暖。

4 maker   

n.制造者，制造商

参考例句：

• He is a trouble maker，You must be distant with him.他是个捣蛋鬼，你不要跟他在一起。
• A cabinet maker must be a master craftsman.家具木工必须是技艺高超的手艺人。

5 dwarfed   

vt.（使）显得矮小（dwarf的过去式与过去分词形式）

参考例句：

• The old houses were dwarfed by the huge new tower blocks. 这些旧房子在新建的高楼大厦的映衬下显得十分矮小。
• The elephant dwarfed the tortoise. 那只乌龟跟那头象相比就显得很小。 来自《简明英汉词典》

6 advertising   

n.广告业；广告活动 a.广告的；广告业务的

参考例句：

• Can you give me any advice on getting into advertising? 你能指点我如何涉足广告业吗?
• The advertising campaign is aimed primarily at young people. 这个广告宣传运动主要是针对年轻人的。

7 portfolio   

n.公事包；文件夹；大臣及部长职位

参考例句：

• He remembered her because she was carrying a large portfolio.他因为她带着一个大公文包而记住了她。
• He resigned his portfolio.他辞去了大臣职务。

8 shun   

vt.避开，回避，避免

参考例句：

• Materialists face truth,whereas idealists shun it.唯物主义者面向真理，唯心主义者则逃避真理。
• This extremist organization has shunned conventional politics.这个极端主义组织有意避开了传统政治。

9 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。