Snap climbed to $29.44 in the days immediately after its market debut but has since declined. Thursday's price was the lowest since the IPO and it did not sink below $17.00. Alibaba (BABA.N) slipped under its IPO price 233 days after its stock market debut while Facebook (FB.O) dipped below its IPO price in its second day of trading. It recently traded at nearly 21 times expected revenue, according to Thomson Reuters data. Portfolio manager Brad Lamensdorf said he would consider shorting Snap again once more shares hit the market.

Source: bd News24 June 15, 2017 22:30 UTC