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Why is Snap Inc (SNAP) Stock down?

We've noticed a 5.30% decline in Snap Inc (SNAP) stock during the 2024-07-01 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
25 Oct, 2023:

Shares of Snap Inc. (SNAP) dropped by 5.36% from $9.71 to $9.19 in the trading on Wednesday, October 25, 2023. The reason why SNAP stock down is due to mixed dynamics:

  • Strong Q3 Results: Snap initially gained with a 12% increase in stock value after reporting impressive Q3 2023 results. They achieved revenue growth, a rise in daily active users, and cost-saving initiatives.
  • Concerns About Ad Market: However, Snap later saw its stock decline as management expressed concerns about a potential advertising market slowdown towards year-end, partially due to pauses in brand-oriented ad campaigns related to external factors like the Middle East conflict.
  • Lack of Formal Guidance: Snap didn't provide formal Q4 2023 guidance but mentioned internal forecasts with revenue growth expectations of 2% to 6% and increased daily active users.
  • Market Uncertainty: Investors, sensitive to market uncertainties, reacted to the cautious advertising outlook despite the positive quarterly results, causing a decline in Snap's stock.
06 Sep, 2023:

Shares of SNAP fell by 7.93% to $9.63 from $10.46. The stock moved down on heavy trading volume. More than 39 million shares were traded today, compared to the stock's 100-day average of 26.4 million shares.

https://stockscan.io/stocks/SNAP/price-history

26 Jul, 2023:

Snap, Inc. (SNAP), the parent company of Snapchat, plummeted 14.23% to $10.73 after the company underwhelmed with its second-quarter earnings report and issued lackluster guidance. Revenue in the second-quarter fell 4% to $1.07 billion, topping estimates at $946.7 million, as the social media company continued to struggle with a weak digital advertising market

https://www.benzinga.com/news/23/07/33390306/why-pacwest-bancorp-shares-are-trading-higher-by-over-35-here-are-20-stocks-moving-premarket

internet_content_information TME
$15.13
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$41.29
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$99.07
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