Snap tumbles below $8 for the first time after analyst says Instagram is ‘irreversibly’ hurting the company (SNAP)
|10/04/2018||Posted by BusinessMediaguide.Com under General World News||
- Snap tumbled below $8 per share on Thursday to the lowest level on record.
- Shares have been under pressure since the social-media company said on August 7 that its number of daily active users fell for the first time.
- Competitive pressure from Instagram will cause Snap to lose another 1 million daily active users in the third quarter, said Evercore ISI’s Anthony DiClemente.
- Watch Snap trade in real time here.
Snap shares plunged below $8 on Thursday — their lowest level on record — after facing several downgrades on Wall Street.
Anthony DiClemente, an analyst at Evercore ISI, said Thursday that read more >>>