The Daily Chase: Snap drags on social media stocks; TSX on winning streak - BNN Bloomberg

In a letter to investors

, Snap said “macroeconomic challenges have disrupted many of the industry segments that have been most critical to the growing demand for our advertising solutions.” On top of that, it’s still dealing with fallout from changes to privacy options in Apple’s operating software for iPhones. And so now Snap isn’t bothering to provide a forecast for the current quarter, though it said in its letter revenue is tracking “approximately flat” so far in Q3.

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