Home » General World News » Snap tumbles below $8 for the first time after analyst says Instagram is ‘irreversibly’ hurting the company (SNAP)

Snap tumbles below $8 for the first time after analyst says Instagram is ‘irreversibly’ hurting the company (SNAP)





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  • 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 >>>

Source:: BusinessInsider.Com

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