What's Going On With Snap Shares Falling Today?

Snap Inc SNAP shares are trading lower by 5.46% to $13.33 as shares of several companies in the broader communications, media and entertainment industry dip amid overall market weakness. A rise in US inflation and economic concerns have pressured discretionary names.

According to the Bureau of Labor Statistics, the all-items CPI figure increased 8.6 percent for the 12 months ending May, the largest 12-month increase since the period ending December 1981.

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According to data from Benzinga Pro, Snap has a 52-week high of $83.34 and a 52-week low of $12.55.