Friday, June 16, 2017

Snap stock has fallen back to its $17 IPO price - Recode

Another company on a similar trajectory this week: Cloudera

"That means that pretty much everyone who bought Snap stock in the days before it hit public markets is back to even on the deal. But anyone who bought the stock on its IPO day or after is in the red. Snap’s stock has dropped 30 percent in value since it closed at $24.48 on its first full day of trading.

There doesn’t appear to be any particular catalyst for Thursday’s stock dip, but people are concerned about Snap’s user growth and weren’t thrilled with its Q1 revenue, which came in below analyst estimates."
Snap stock has fallen back to its $17 IPO price - Recode
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