Shares of on Monday fell below their IPO price for the first time, just ahead of a crucial period for the social media stock.

Snap dipped to a low of $16.95 before closing at $16.99, just below the $17 price of the .

The shares ended their first day of trading, March 2, up 44 percent to $24.48. The stock hit a high of $29.44 on March 3.