On March 2, Snapchat made its stock market debut, with an initial public offering priced at $17 and shares rising to $24.48 by the end of the trading day.

In the process, cofounders Evan Spiegel and Bobby Murphy made a combined $2.8 billion, becoming the only self-made billionaires in the world under the age of 30 to own a publicly traded company, according to Forbes.

And Spiegel, who the magazine had previously said was worth $4 billion, was suddenly $1.4 billion richer.

It’s been all downhill from there.

Since its IPO, Snapchat shares have slid more than…