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Snap's shares pare losses in brisk trading as lockup ends

NEW YORK (Reuters) - Shares of Snap Inc (SNAP.N), owner of the Snapchat messaging app, clawed back much of its earlier losses in volatile trading on Monday, after dropping to a new low as the expiration of a share lockup allowed early investors to sell.

The stock was last down 0.1 percent at $13.79 after falling as much as 5.1 percent and hitting a low of $13.10, putting it well below its early March initial public offering price of $17.

Trading volume was 1.5 times the company's 10-day moving average with more than 26 million shares having changed hands just two hours into the regular trading session.

Starting on Monday and extending into August, early investors, employees and other insiders can sell shares for the first time since its $3.4 billion IPO, the third-largest for a U.S...


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