Snapchat dips below $20 for the first time
Advertisement
Shares of Snap have tumbled below the $20 level, trading down 4.1% at $19.91 per share as of 2:12 p.m. ET.
Advertisement
Thursday's selling has the Snap down about 32% from its all-time high that was set on March 3, just a day after the initial public offering. Snap's IPO priced at $17 per share and their first trade occurred at $24.
Wall Street has been skeptical of Snap from the get go as it was the first US company to list shares with nonvoting rights. That prompted six out of eight analysts initiating coverage to slap "sell" ratings on the stock. The other two rated shares as a "hold."
Advertisement
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador