Snap's Slump Streak Continues
Wall Street is bracing for another big move in the shares beginning on Monday
Just when it seemed that Snap Inc.'s (SNAP) - Get Snap, Inc. Class A Report wild post-IPO ride couldn't get any worse, Wall Street is bracing for another big move in the shares beginning on Monday. That's when the Snapchat parent company's 150-day lockup period expires and up to 400 million shares are eligible flood the market, which is expected to put the stock under pressure (Snap's current float is 188 million shares). Those 400 million shares are primarily owned by early investors and insiders such as CEO Evan Spiegel and CTO Bobby Murphy, as well as venture capital firms Lightspeed Venture Partners and Benchmark Capital, among others.
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