Snap Shares Sink After Lockup Expiration

Shares of Snap Inc. were sinking 4% Monday morning on the first trading day after a lockup expiration. Under the 150-day lockup expiration, some investors and insiders were allowed to sell shares for the first time, with estimates forecasting 957 million shares that could hit the market. Shares of Snap have fallen 26% in the past month, while the S&P 500 has gained 2%.

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