Snapchat developer’s profit warning sends social media stocks tumbling

Snapchat developer’s profit warning sends social media stocks tumbling - short news


Snap Inc’s shares fall nearly 40% in early trading as fears grow over global downturn

A profit warning from Snapchat’s developer has sent the company’s shares crashing nearly 40% in early trading, triggering the latest in a series of stock market routs that has wiped billions from the value of social media companies amid fears their revenues will be hit by a global economic downturn.

“Since we issued guidance on April 21, 2022, the macroeconomic environment has..


Read more on The Guardian

source: The Guardian - 24.05.2022

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