Virgin America Airlines' IPO Opens Big On Nasdaq, Now Worth $1 Billion

After raising nearly $306 million for its initial public offering Thursday, Virgin America, which is trading on the Nasdaq under the symbol VA, shot up more than $5 a share Friday. After opening at $23 a share, the airline jumped almost 25 percent in the first hour of trading. The company is now worth $1 billion, CNNMoney reported.