Snap's bleak earnings just crashed its stock - again

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 51%

Belgique Nouvelles Nouvelles

Snap stock is facing a double-digit sell-off after earnings for the 5th straight quarter. Here's why investors are panicking.

Shares of the Snapchat parent crashed as much as 20% on Wednesday, marking the fifth consecutive quarter that the stock declined by double-digits after earnings. By midday in New York, Snap stock changed hands at about $10.10 per share.

Snap stock remains up about 14% this year, but it's nearly 90% its peak reached in November 2021. The company has faced slowing user growth and broad layoffs that reduced headcount by about 20%, similar to other tech firms in the last year.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 729. in BE

Belgique Dernières Nouvelles, Belgique Actualités