Snap edges toward its IPO price even after a slate of new features
Even after a slate of new announcements, Snap still can't convince investors of its value.
Snap, the messaging company, is falling toward its IPO price on Monday. The company set its IPO at $17 back in March, and after a brief pop, the stock has been falling almost constantly since. Shares are edging down toward $17 as the markets open Monday.
The decline comes despite the company opening a new advertising feature and releasing new features for users.
Snap recently released a maps feature that allows users to see where their friends are as well as drop into popular events that Snap features on the map. In addition to the new options for users, the maps feature should allow the company to sell location-based advertising to place on the map.
In a recent update, the company also added the ability to add links to users' snaps. The feature had existed before, but only for advertisers.
As part of the recent update, Snap also added the ability to select objects in a photo to remove or highlight against pre-programmed backgrounds.
Snap opened for trading at $17.16 on Monday. The company hit its $17 IPO price last month and has been hovering just above that range since.
Click here to read more about Snap ...
Get the latest Snap stock price here.
- I'm an interior designer. Here are 10 things in your living room you should get rid of.
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
- Bajaj Pulsar NS400Z launched at ₹1.85 lakh, becomes cheapest 400cc bike in the country
- India, xenophobic? US President Joe Biden says India and Japan’s economy are bad because of xenophobia, compares to China and Russia
- Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies
- Apple clinches strong double-digit growth in India; CEO says incredibly exciting market
- Nifty hits record peak in early trade; Bajaj Finance jumps 6%