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Another red day: Snapshot sent a warning - and dropped 43 percent - Walla! Of money

2022-05-24T20:17:26.154Z

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



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!

Of money

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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Source: walla

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