Own a piece of Snapchat, they said. You’ll be cool, they said.
SEE ALSO: Snapchat is on a crusade to show why it’s better than Facebook (hint: size isn’t everything)
If you took that advice, you’re probably not in a good place.
Snap’s stock fell to its IPO price of $17 on Thursday, a significant barometer for the company since it went public. It’s been tumbling down since Snap began trading in March, when shares briefly traded above $25.
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Investors and analysts just haven’t had much faith in Snapchat. Not unlike Twitter, the stagnant user growth is worrying to many. The app saw a 40 percent year over year decline in downloads in the first two months of the second quarter compared to the year prior, according to data from Sensor Tower, cited by analyst Anthony DiClemente. Read more…
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