Things aren’t looking so great for Evan Spiegel and Snap. The company’s stock has been plummeting for the last few days, after its most recent earnings report. This afternoon, Snap’s price hit $10.51, which is an all-time low. It’s since risen slightly to $10.78.
Snap significantly missed targets and posted its slowest growth rate ever during Q1. In the hours following the report’s release, the company’s stock slumped more than 16%. Even as Spiegel promises new products and tools to help boost the ailing social platform, the stock has only continued its free-fall.
A year ago, Snap’s stock hit a high of $23.32. Will it ever rebound to that past glory? Who knows.