Snap falls below its IPO price for the first time
The Snapchat parent had a difficult day on the stock market, closing at $16.99. It’s officially fallen below its $17 IPO price for the first time.
This is significant because it means that overall, public investors have lost money on the company since its March IPO. A money-losing reputation can be hard to recover from.
But for employees and pre-IPO investors, not all hope is lost. Read More