Can Snap Stock Bounce Back After Last Week's 10% Drop?
Snap, Inc. (NYSE: SNAP) investors can't seem to catch a break. Just when it seems as if Snapchat's parent company was starting to bottom out -- moving higher last month for the first time as a public company and working on a second straight increase in September -- the shares resume their slip-sliding ways.
Snap stock moved 10.46% lower last week, declining in all five of its trading days. There was no overly bearish news outside of Snap restructuring its hardware division, and even that can be viewed as a positive given the lull in Spectacles' popularity. The more likely explanation for the stock erasing its month-to-date gains is that investors are trying not to push their luck after the stock's recent gains.
Image source: Snap, Inc.
Source: Fool.com
