Snapchat Founders Lose Billions As Stock Crashes

ToplineShares of Snapchat parent Snap had a historically brutal decline Wednesday, wiping out about a quarter of the social media firm’s billionaire leaders’ fortunes in the process.Snap cofounders Bobby Murphy, left, and Evan Spiegel ring the opening bell at their company's 2017 ... [+] initial public offering.Getty Images Key FactsSnap stock crashed 36% to $11 by mid-afternoon, pacing toward its third-steepest daily decline in Snap’s seven years as a publicly traded company. The “violent” plunge came aft ...