Why Snap Stock Is Trading Lower Today
Portfolio Pulse from Ryan Gustafson
Snap Inc. (NYSE:SNAP) shares are trading lower after the company's MyAI chatbot experienced an outage and posted stories for some users. The stock was up nearly 50% from the beginning of the year in mid-July, but third-quarter earnings results sent the stock lower. SNAP remains up 3.01% year-to-date.
August 16, 2023 | 7:24 pm
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NEGATIVE IMPACT
Snap Inc.'s stock is trading lower due to a MyAI chatbot outage and disappointing Q3 earnings results. However, the stock remains up 3.01% year-to-date.
The outage of Snap's MyAI chatbot, which likely disrupted user experience, combined with disappointing Q3 earnings results, have negatively impacted the stock. Despite this, the stock remains up year-to-date, indicating some resilience.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100