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Snap's Shares Open At Lowest Since IPO

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Reuters reports that Snap Inc's shares fell as much as 10.4 percent on Tuesday, opening at their lowest since a blockbuster market debut last week. Snap's shares hit a low of $21.30 in early trading on Tuesday, wiping out more than $9 billion of the company's market capitalization from Friday's high. Shares surged 44 percent in a hotly anticipated listing on Thursday, valuing the parent of Snapchat, an app popular with young people for its disappearing messages, at $28.3 billion, on par with CBS Corp and Target Corp. However, none of the analysts have initiated the stock with a "buy" rating. Snap has been heavily traded in its first three days, rolling over the number of shares sold in the IPO more than twice.http://feeds.reuters.com/~r/reuters/t...http://www.wochit.comThis video was produced by YT Wochit Business using http://wochit.com


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