Snap shares extend slide in pre-market trade

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Snap Inc shares were poised to open 5 per cent lower on Tuesday at $22.61, with pre-market trading putting the stock below a $23.50 low set on its first day of trading.

More than 2m shares traded hands in pre-market and overnight trading, according to Bloomberg.

Snap shares climbed 59 per cent on their first two days of trading, before sliding 12 per cent on the third. On Monday, the US Securities and Exchange Commission’s short-sale rules were put into effect after Snap shares had slid more than 10 per cent.

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