Snap Inc.'s Stock Price Has Fallen Below Its IPO

Snap's market woes continue with the company's stock price being downgraded by Morgan Stanley. The fall in price from $28 USD to just $16 USD also represents the first time that Snap's value has ever fallen below its IPO price of $17 USD per share, or $24 billion USD for the company, which was actually set by Morgan Stanley earlier this year. In a note to investors, Brian Nowak, the analyst who leads the team, explained the decision: "Snap's ad product is not evolving/improving as quickly as we ...