We recently published a list of 10 Companies Reflect Market Decline. In this article, we are going to take a look at where Snap Inc. (NYSE:SNAP) stands against other companies that reflect market decline.

The stock market was lackluster on Thursday, with Wall Street’s main indices ending the day with marginal declines.

The Dow Jones Industrial Average dipped by 0.16 percent, the S&P 500 shed 0.21 percent, and the Nasdaq Composite declined by 0.89 percent.

Ten companies mirrored the decline on Wall Street over a series of catalysts including uncertain government policies and disappointing earnings results.

Let’s take a closer look at the worst performers and explore the factors behind their declines.

To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A young adult family using a Camera to record moments of their daily life.

Snap Inc. (NYSE:SNAP)

Snapchat’s parent firm Snap Inc. (NYSE:SNAP) booked a 5.24-percent decline in share prices on Thursday, with investor sentiment dampened by news that the Federal Trade Commission (FTC) is set to refer a complaint against the company to the Department of Justice.

The FTC’s non-public complaint stemmed from allegations that Snapchat’s My AI chatbot  used an artificial intelligence chatbot that “poses risks and harms to young users.”

Meanwhile, a representative from 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.”

Overall, SNAP ranks 9th on our list of companies that reflect market decline. While we acknowledge the potential of SNAP as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SNAP but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stock To Buy Now and 30 Most Important AI Stocks According to BlackRock

Disclosure: None. This article is originally published at Insider Monkey.