The stock has dropped nearly 90% from its all-time high of $83.34 in September of last year, erasing tens of billions in market cap value and falling harder than embattled, volatile cryptocurrencies like Bitcoin. The stock price is down nearly 40% for the day, at the time of writing, as investors rejigger their expectations for the future performance of the stock.Īfter closing just below $16.50 yesterday, their stock is now hovering below $10. Investors in social media company Snap are reeling this afternoon as the stock has endured a bit of a meltdown following its release of Q2 earnings yesterday.
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