Snap Inc. (NYSE:SNAP) falls as market values 956 million users at less than $8 apiece
Snap shares slid 3% to $4.395, valuing the company at $7.4 billion—just $7.76 per Q1 monthly active user—as investor debate intensifies over costly Specs hardware, which has consumed $3.5 billion, or 47% of Snap’s equity value, amid activist pressure and CEO Spiegel’s defense of long-term bets.