Snap shares plummet 22% after first earnings report since IPO

Fell 21.5% to $18.05

Shares in Snap, the owners of social media app Snapchat, fell dramatically after the company reported a $2.2bn loss and slowing growth.

After closing the day at $22.98, Snap's shares tanked 21.5% in overnight trading and continued to fall during trading on the New York Stock Exchange (NYSE) on Thursday, closing at $18.05, a loss in value of nearly $6bn, according to The Guardian.  Year-to-date, shares are down 26.3%, previously falling some 12% after its initial public offering (IPO) when analysts said the company was overpriced after they jumped 44% when the firm was first listed.  Wednesday was the first time Snap had to report its earnings after its IPO back in March, which valued the company at $28bn.  Snap saw...