Much like Snapchat, Facebook Stories will allow users to post photos and videos that will disappear after 24 hours.
Tuesday’s slide comes after Snap gained about 4.8% on Monday after receiving a slew of bullish ratings from across Wall Street. Here’s a rundown of all of the initiations:
- Goldman Sachs: Buy, $27 price target
- Morgan Stanley: Overweight, $28 price target
- Citi: Buy, $27 price target
- RBC: Outperform, $31 price target
- Jefferies: Buy, $30 price target
- Oppenheimer: Market perform
- Credit Suisse: Outperform, $30 price target
- UBS: Neutral, $24 price target
- Stifel: Hold, $24 price target
- Cowen: Outperform, $26 price target
Snapchat priced its IPO at $17 per share, and its first trade on March 2 printed at $24. The stock hit a high of $29.44 on March 3 before falling to a low of $18.90 on March 17.