Snap stock drops to $8.21 ahead of CPI week as investors size up SNAP’s next catalyst
Snap shares fell 2.3% to $8.21 Friday, extending a three-day slide and closing about 38% below their 52-week high. CEO Evan Spiegel sold 1.22 million shares for roughly $10 million on Jan. 5 under a preset trading plan, according to a regulatory filing. Investors are watching for U.S. inflation data Jan. 13 and Snap’s next earnings report, expected in early February.