Snap sinks below its IPO price for the first time (SNAP)

Snap, the parent company of Snapchat, just dropped below its IPO price of $17 for the first time.
Snap shares have been bumping around their IPO price ever since closing at that level on June 15. The stock has never fallen below the $17 mark.
Snap debuted at $17 and first began trading at $24. It reached its all-time high of $27.09 on March 3, one day after its IPO. It's now down 37% from there. 
The company is struggling to innovate faster than its competitors. Facebook has been copyi