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Snap Inc continues to lose value on fourth trading day
Snap Inc.’s (NYSE:SNAP) shares have fallen more than 7% in early US trading today after losing 12% in value yesterday.
The owner of popular disappearing photo app, Snapchat, has seen its share price drop to $21.86 each on the fourth day of trading today.
Ths share price fell to $23.77 per share at yesterday’s close from the $24 it achieved on the first day of trading last Thursday.
The initial public offering, priced at $17 a share, had started off on a solid footing but it seems Snap could prove Wall Street bears right.
Some analysts had predicted Snap would follow a similar story to Twitter’s IPO in November 2013. Twitter’s value has fallen to $15.56 per share from the IPO price of $26 per share after finishing its first day of trading at $44.94 per share.
– Updates share price –
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/174393/snap-inc-continues-to-lose-value-on-fourth-trading-day-174393.html
