Why Snap Stock Is Crashing Off A Cliff Premarket Today
Portfolio Pulse from Shanthi Rexaline
Snap, Inc. (NYSE:SNAP) shares fell over 19% in premarket trading due to lackluster guidance, despite better than feared Q2 results. Engagement metrics improved, with daily active users in North America increasing for the first time since Q3 2022. However, Snap faces competition in Augmented Reality from larger companies and struggles to win back advertiser budgets.
July 26, 2023 | 9:53 am
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Snap's stock price fell due to lackluster guidance, despite better than expected Q2 results. The company faces competition in AR and struggles to win back advertiser budgets.
The drop in Snap's stock price is due to lackluster guidance, despite better than expected Q2 results. The company's struggle to win back advertiser budgets and competition in AR from larger companies are potential challenges that could impact the stock price negatively.
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