Snap shares rose 6.5 percent Monday morning in volatile trade, rebounding from earlier losses.
Shares had fallen 4 percent in early trading after U.S. securities filings showed some funds dissolving their stakes in the social media company and another brokerage lowered its price target on the stock.
Shares of the Snapchat parent are likely to face new pressure on Monday, when employees for the first time are allowed to sell their stock following the company’s blockbuster initial public offering.
