When the parent company of Snapchat floated on the US market last week many were surprised when the IPO price was set at $17 which was higher than the revised price range. It turns out that the offer was around 10 times oversubscribed and there was significantly more demand than many had expected. The shares initially increased by more than 30% in the first day of trading subsequently moving further ahead, hitting a high of $28.50 on Friday of last week. However, the last two days have seen the share price fall by 12% and 7% in early trading today. So, has the Snapchat bubble burst already? Read full article
