On Thursday, shares for Snap fell below $20 for the first time since the company’s public listing. Following two days of big gains after its IPO, Snap’s stock has dropped from a peak of more than $29 as investors worry about its lack of profitability. Other Wall Street Analysts have said that the reason for the drop is Snap’s slowing user growth, widening losses and lack of voting rights for outside investors. According to Thomson Reuters, at least six analysts recommend selling shares of Snap, while none recommend buying.
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