Fitbit shares jump 50% in public debut

FitBit stock is off and running.

Forbes reports shares of the San Francisco-based company opened Thursday at $30.40, a 52 percent surge from the $20 it priced its shares at Wednesday evening. The company already had raised its price target twice since announcing its initial public offering last month, up from an original $14 to $16 per share, indicating strong investor demand.

By going public, Fitbit raised more than $730 million, giving it a valuation of about $4.1 billion.

The company is trading on the New York Stock Exchange under the symbol FIT.

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