Much like Snapchat, Facebook Stories will allow users to post photos and videos that will disappear after 24 hours.
Tuesday’s slide comes after Snap gained about 4.8% on Monday after receiving a slew of bullish ratings from across Wall Street. Here’s a rundown of all of the initiations:
- Goldman Sachs: Buy, $US27 price target
- Morgan Stanley: Overweight, $US28 price target
- Citi: Buy, $US27 price target
- RBC: Outperform, $US31 price target
- Jefferies: Buy, $US30 price target
- Oppenheimer: Market perform
- Credit Suisse: Outperform, $US30 price target
- UBS: Neutral, $US24 price target
- Stifel: Hold, $US24 price target
- Cowen: Outperform, $US26 price target
Snapchat priced its IPO at $US17 per share, and its first trade on March 2 printed at $US24. The stock hit a high of $US29.44 on March 3 before falling to a low of $US18.90 on March 17.
Get the latest Snap stock price here.