Snap, the parent of Snapchat, had a great first two days on the stock market, only to be followed by two terrible ones. Shares quickly tumbled to beneath $22, an over 11% drop in morning trading.
This means that most investors are already losing money on the social media company. Snap opened Thursday at $24 per share.
It is still above its $17 IPO price, but that’s mainly relevant for the exclusive club of high-net worth individuals and institutional investors who were allowed to buy into the IPO. Those lucky folks are still seeing 25% gains.
And with a market cap of roughly
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source http://www.omnipopmag.com/2017/03/07/snap-has-already-tumbled-11-on-day-four/
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