Snap sinks to all-time low, falls below $10 for the first time
Thursday's dip puts Snap on pace for its seventh straight day of losses.
Social stocks have been under pressure this week.
At Thursday's lowest point, Snap was off more than 40 percent from its debut price of $17.
Snap SNAP continued to sink Thursday, falling below $10 for the first time and hitting an all-time low for the third straight day.
The shares fell 3 percent in morning trading to $9.81. The dip puts Snap on pace for its seventh straight day of losses. It has already shed 9 percent this week.
Social media stocks have been under pressure this week, as Facebook FB COO Sheryl Sandberg and Twitter TWTR CEO Jack Dorsey fielded questions from lawmakers about political bias, digital security and abuse of their platforms.
Twitter's stock tanked 6 percent Wednesday, and dragged its peers lower.
Snap's shares have struggled to hold their 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.
Disclosure: CNBC parent NBCUniversal is an investor in Snap .
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