Snap investors, avert your eyes!
It’s been exactly two years since Snap completed its very successful IPO. Snap had figured out how to reach the young people that Facebook was no longer capturing; investors hoped Snapchat would give Facebook and its stable of apps like Instagram and Messenger some legitimate competition.
Unfortunately for Snap, that hasn’t happened. In two years, the stock is down about 60 percent from the $24.50 price it closed at on its first day of public trading. It’s not a pretty slide.