As Snapchat’s parent company Snap prepares to release its second quarterly earnings report as a public company next week, the pressure on this year's most prominent stock market debutant is mounting. The company’s share price has been spiraling downwards ever since Snap’s first quarter results didn’t live up to expectations and currently appears to reach new lows every other day. As of this writing, the stock is trading at $12.20, down roughly 30 percent from its IPO price and nearly 60 percent from its all-time high of $29.44.
As Snap is trying to regain some positive momentum, it certainly doesn’t help that Facebook’s strategy to copy Snapchat’s most popular features appears to be working. The company’s decision to launch Snapchat Stories clones on Instagram, WhatsApp and Messenger may have drawn some criticism but it’s paying off, at least as far as Instagram Stories and WhatsApp Status are concerned. According to a Facebook post published by CEO Mark Zuckerberg last week, both features now have 250 million daily active users, a number that Snapchat can only dream of reaching anytime soon.
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