Snap Falls Further From Its IPO Price as Investors Worry About Growth

Snap is following through on a lower day Tuesday as investors worry about growth at the social media network as competition with Facebook.

Author:: Jane King
Publish date:: Jul 11, 2017 7:45 AM EDT

Snap (SNAP) - Get Report is following through on a lower day Tuesday as investors worry about growth at the social media network as competition with Facebook (FB) - Get Report . Shares of the company slid below it's initial public offering price of $17 a share.

Oil prices turned lower even though there is talk of an oil output cut from Libya and Nigeria and signs that the United States supply of oil is waning. Meanwhile, the International Energy Agency says investment in U.S. shale soared 50% in 2017.

PepsiCo (PEP) - Get Report said its profits were higher mainly on its snack business. Frito-Lay revenue grew 3 percent in North America. Pepsi, like rival Coca-Cola, is trying to promote other products as customers shy away from sugary drinks and look for healthier options.

This article was written by a staff member of TheStreet.