HomeTecStocksSnap lost 39% after reporting poor earnings

Snap lost 39% after reporting poor earnings

Snap shares lost 39% on Friday, trading around $10, a day after it reported disappointing Q2 results. Snap lost about 80% from its high, about a little over $83.

SNAP was hit with a series of downgrades by analysts today. Snap said the challenging economy, Apple’s privacy updated, and competition from Instagram, Tiktok slowed demand for its online platform. Snap’s loss permeated across META (Facebook’s parent company), Google and Twitter. Twitter also reported one of its worst performances.



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