Snap Inc's early days as a publicly listed company have been a mixed bag. If stock returns are the barometer of success, you'd have to say Snap's IPO has arguably been a success. The stock trades at just over $20.2 a share, implying a near 19% return for investors who bought into the IPO. Annualized, these returns look even better, given that Snap debuted on the NYSE just about three months ago, in early March. For most investors, these are returns you can't complain about. However, for those who bought shares of the company at levels closer to $30 a piece, the experience hasn't been as pleasant, with buyers at the peak now down by over 31%. And as things stand, the narrative doesn't look great for the company, even after such a big correction. To be fair, a big part of the correction took place prior to Snap's disappointing earnings release, and you could put that down to profit booking. However, poor quarterly results have played their part as well,...