Snapchat's money flow is spiraling downward. The popular app's stock has been in a tumble and has lost ten percent since Monday hitting an all-time low of $6.84 a share which is nearly sixty percent below its' initial public offering of $17 in March of last year.
Wall Street researcher Michael Nathanson says Snapchat was not prepared for life as a public company and will likely have to raise capital by mid 2019 as it is running out of money. Nathanson says Snapchat is hurt by slower user growth and slower revenue per user growth.
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