These 10 Firms Were Last Week’s Worst Performers

7. Snap Inc. (NYSE:SNAP)

Snap Inc. (NYSE:SNAP) saw its share prices decline by 12.9 percent week-on-week to $10.86 last Friday versus the $12.47 the week prior as investors sold off positions following news that the Federal Trade Commission (FTC) is set to refer a complaint against the company to the Department of Justice over allegations that Snapchat’s My AI chatbot used an artificial intelligence that “poses risks and harms to young users.”

A representative from Snap (NYSE:SNAP) debunked the claims, saying that its MyAI incorporates “rigorous safety and privacy processes” and that the FTC’s complaint “lacks concrete evidence.”

The FTC said that its probe “uncovered reason to believe Snap (NYSE:SNAP) is violating or is about to violate the law.”