Another red day: Snapshot sent a warning - and fell 43 percent
Snap CEO Evan Spiegel warned that the company would not meet the revenue target, the stock collapsed and attracted with it (Facebook), which fell by nearly 8 percent. Another red day at Nasdaq
Walla!
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24/05/2022
Tuesday, 24 May 2022, 23:07
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Is tonight (Tuesday) another milestone in the status of social networks?
Possibly, after a letter sent by Snap CEO Evan Spiegel to employees on Monday, stating that the company would not meet the revenue target, was made public. The Corona of March 2020.
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Total helplessness on Wall Street (Photo: GettyImages, Spencer Platt)
Spiegel's warning was a direct continuation of the mediocre reports that Snap released on April 21 (and did not directly lead to a significant drop in value), and not only that, it also created a shake-up in the entire digital media market, where similar results are feared.
Shares of Meta (Facebook) shed 7.6 percent from the campaign, having already fallen 10 percent during trading.
Google lost 5 percent, Amazon fell 3.2 percent, Apple nearly 2 percent and Netflix continues to crash with a decline of about 4 percent.
The Nasdaq index lost 2.35 percent, while the Dow Jones recorded a fairly static day that ended with a rise of about a tenth of a percent.
The S&P index fell 0.8 percent, bringing it even closer to being declared a bear market.
Morgan Stanley Investment House estimates that the index is expected to lose another 15 percent of its value in the coming weeks.
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