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Therese Poletti’s Tech Tales: Snap judgments: Why so much negative sentiment surrounds year’s hottest IPO

Michael Nagle/Bloomberg
Snap Inc. co-founders Bobby Murphy, the company’s chief technology officer, Evan Spiegel, Snap’s CEO, are joined by Tom Farley, president of the NYSE Group, as their company rings in life as a public company on March 2.

The Snap Inc. thrill has faded as quickly as those ephemeral messages on the Snapchat app, and the favored institutions that got IPO allocations have had their fun and dumped the stock. But the investors who are sticking around should expect a bumpy ride.

Shares of the freshly public company SNAP, -2.82% , after soaring initially, have fallen about 10% from their most exalted level, and many analysts and investors believe they have farther to go.

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