Latest News

Social Media Stocks Sink to Erase $165 Billion on Snap Warning



Snap Falls After Cutting Forecast, Shock Spreads to Rivals

(Bloomberg) — Snap Inc. cut its revenue and profit forecasts below the low end of its previous guidance, sending shares plunging as much as 31% and pushing other social media stocks down.The company will also slow hiring, Chief Executive Officer Evan Spiegel said in a note to staff. “Like many companies, we continue to face rising inflation and interest rates, supply chain shortages and labor disruptions, platform policy changes, the impact of the war in Ukraine, and more,” he wrote in the memo

Snap Stock Dives, Drags Down Peers, On Big Warning Over Economy

Previous article

‘I feel like I am reliving the summer of 2008.’ Strategist David Rosenberg sees bear market sinking the S&P 500 to 3,300

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News