 It is a big day here at the New York Stock Exchange. Shares of Snap soaring at its trading debut. It priced at $17 a share and it opened at $24. It's now at $24.86. I'm joined now by NYSE trader Peter Costa. So Peter, obviously a very successful IPO. Oh yeah, I'm sure the company is very, very happy about this. It's up 30% from the IPO, which was up from where they had initially gone out, advertising the IPO. Okay, and talk to us a little bit about the mechanics of how we got to an open of $24 a share. Well, what ends up happening is there are a lot of unsatisfied buyers during the banking period. When the investment bankers go out and go to institutions, institutions determine how many shares they want to put in their portfolio and they get allocated a certain amount of shares and apparently there were a lot of people that were dissatisfied. So that was the bulk of what came in. And what ends up happening also with these, a lot of big IPOs like this, the individual investor doesn't get allocated that many shares. Why it's beyond me? Because you would think that that would be the place they would go to fill these orders, but they didn't. So a lot of the retail investors came in after the IPO was over and they put their orders in this morning. Another reason that the stock opened as well as it did. All right, and your advice to retail investors, should they be getting in now? Well, if they're not in, I would wait. I mean, I think that with these stocks, they tend to churn a lot and what you'll see over the next couple of days is that churning. It might fall back to a level, maybe below that opening price. Then you give it a shot. If you like the story, if you like it three months, six months, or a year out, you can probably get a little bit cheaper. This is a lot of euphoria. We're seeing a lot of euphoria in that. Things tend to settle down afterwards. And also fear of missing out, right? When we haven't seen an IPO like this, perhaps since Alibaba in 2014. Yeah, I mean, we've had a dearth of IPOs, of significant IPOs and I think that's one of the reasons you're seeing that institutional interest from the roadshow. So it becomes now other companies. Now the other companies are going to look and say, well, the market's at all-time highs. We're right around all-time highs. This might be a good time to go public as well. So we'll see. I mean, there are a few in the pipeline that seem to be fairly large, not as large as this one, but, you know, there are going to be opportunities to buy things. Well, they got lucky to have a stock market rally the day before, which is, we saw, you know, one and a half percent gains across the board yesterday. Yeah, I mean, yesterday was a very significant move, but I think that this would have went off pretty much the same way anyway. I think there was a lot of money on the sidelines looking to be invested in a unicorn. And this was definitely a unicorn. And I think there was, they were very, very interested from the very beginning when they announced that they were going public. And I think that, you know, the market could have been down 500 or up 500. It really wouldn't have mattered. This would have went off as well as it did. All right. Peter Costin, incredible day here. Thanks so much for joining us. Thank you. Thank you.