Reported 2 days ago
Snap's stock fell over 15% after the company scrapped its forecast, heightening fears of a slowdown in advertising spending due to economic uncertainties. With declining U.S. ad spend from Chinese e-commerce giants, Snap's valuation could drop by more than $2 billion if these losses persist. The advertising market's health will be under scrutiny as Meta prepares to report its earnings.
Source: YAHOO