Markets Insider
- Snap shares got hammered Monday, and are slipping even more Tuesday.
- Facebook is also down in the last several days.
- Snap has announced three rounds of layoffs this year.
- Watch Snap trade in real time here.
Snap shares are sliding almost 4% Tuesday, to an intraday low of $13.80. Snap got hammered Monday, losing 8%.
The stock has seesawed since the company announced in late March that it is laying off 100 employees, the third round of layoffs for the company this year.
Snap is not the only social media company to get slugged recently, as Facebook is down slightly Tuesday, as the stock struggles to recover from the massive Cambridge Analytica data scandal.
Snap, which was up on the year until recent weeks, is now down more than 6% year-to-date, as it has seen a near 14% drop in the past week.
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