Shares of Facebook Inc. FB +5.26% made modest early gains during its IPO debut Friday, with the social networking website company’s stock increasing about 11% on its first trade.

The Menlo Park, Calif., company’s shares opened at $42.05 apiece on the Nasdaq Stock Market, up from its initial public offering price of $38. The deal priced at the high end of a raised range of $34 to $38, which was boosted earlier this week from its original level of $28 to $35 in response to investor demand.

Nasdaq had targeted an 11:05 a.m. EDT release Friday, but traders said they were having trouble changing or canceling orders they had submitted to Nasdaq’s queue starting at 7:30 a.m.

Traders said the orders were accepted normally, but the usual process for canceling or altering an order wasn’t accepted, suggesting problems with the queue. One trader said it wasn’t surprising given the number of institutions involved, but signaled reasons why trading was delayed.

A representative for Nasdaq wasn’t immediately available for comment.

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