Not long ago, the buzz was that Snap Inc (NYSE:SNAP) represented a major threat to Facebook Inc (NASDAQ:FB). The belief was that FB was losing its innovative edge as well as losing relevance with the younger generation. Source: Snap
But of course, things have turned out differently — and quickly. Since coming public in early March, SNAP stock is off about 41%. Yet during this period, FB stock is up about 20%.
Now it’s important to keep in mind that IPOs often undergo quite a bit of volatility. A prime example is actually FB. For the most part, it took some time for investors to get a sense of the company’s prospects. More importantly, Mark Zuckerberg took swift actions to transform his company to being “mobile first.” Read