Snap continued to sink Thursday, falling below $10 for the first time and hitting an all-time low for the third straight day.
Shares fell more than 2 percent in morning trading to $9.84. The dip puts Snap on pace for its seventh straight day of losses. It has already shed 9 percent this week.
Social stocks have been under pressure this week, as Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey fielded questions from lawmakers about political bias, digital security and abuse of their platforms.
Twitter stock tanked 6 percent Wednesday, and dragged its peers lower.
Snap stock has struggled to hold its value since its IPO early last year. At Thursday's lowest point, Snap was off more than 40 percent from its debut price of $17 and more than 65 percent off its all-time intraday high of $29.44.
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