Altaba Inc (NASDAQ:AABA) shares started trading today in New York and gained 3.65% to $54.50.
The publically listed entity is the result of global search titan Yahoo inc (NASDAQ:YHOO) selling its operating assets in a milestone deal, completed last week, to Verizon Communications Inc (NASDAQ:VZ).
Yahoo closed out Friday's session at $52.58 .
Altaba's main assets are a big stake in Chinese e-commerce giant Alibaba Group Holding Ltd (NASDAQ: BABA) and Yahoo Japan Corp.
Verizon shares are down 0.48% at the time of writing to $46.40. Aliababa is up 2.81% at the time of writing.