What's Going On With Snap Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
Snap Inc's underage user policy is under scrutiny by Britain's data regulator, which is investigating Snapchat's efforts to remove underage users. In 2022, Snap reportedly removed only a few dozen children under-13 from its platform in Britain, while Ofcom estimates it has thousands of underage users. If found guilty of violating rules, Snap could face a fine of up to 4% of its annual global turnover. Snap's shares traded lower by 3.17% at $10.24 on Tuesday.
August 08, 2023 | 1:53 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Snap Inc is under investigation by the UK regulator for its underage user policy. If found guilty, it could face a significant fine, which has led to a drop in its share price.
The investigation into Snap's underage user policy by the UK regulator could potentially result in a significant fine, which would impact the company's earnings. This has created uncertainty among investors, leading to a drop in the company's share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100