Update (9:40 a.m.): Updated with Tuesday market open information.
The stock was down 6.83% to $25.93 at 9:38 a.m. on Tuesday.
The company's strong fundamentals, initial public offering pricing and underwriters are the recipe for a pop in share price.
A string of tech companies to keep an eye on as 2017 ushers in a more friendly tech IPO market.
An initial public offering for the social media app developer could precede debuts for a host of other venture capital-backed tech players.
The window may be finally opening wider in the tech IPO market after a quiet first half of the year.