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Snapchat IPO 1)Why did Snaps stock fall 23% after its first quarterly report as a public company? Does this mean that investors paid too much

Snapchat IPO

1)Why did Snaps stock fall 23% after its first quarterly report as a public company? Does this mean that investors paid too much for Snaps IPO?

2)Why is "pricing an IPO...as much art as science"?

3)Was it a mistake for Snap to go public? Why or why not.

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