Snapchat parent Snap's disclosure of a $2.2 billion loss in its first quarter as a public company could curb investor appetite for high-flying tech IPOs, analysts say.
Snap's stock was down by around 20 percent on Thursday, the first trading day after the report, a stumble analysts suggest could make it harder for highly valued tech companies seeking to go public.
"It will have a dampening effect on investor interest in the highly valued, money-losing private companies," said Kathleen Smith, principal of Renaissance Capital, which manages IPO-focused ETFs. "They're bound to be more cautious on others that look like it."
More from NBC News:
President Trump Unleashes on Fired FBI Director James Comey and 'Fake Media'
Belt and Road Initiative: China Plans $1 Trillion New 'Silk Road'
Another California Shark Attack, or a Case of 'The Girl Who Cried Shark?'