Social media specialist (NYSE: SNAP) is facing serious headwinds. Like many other businesses that rely on advertising to make a buck, the company has seen its financial results suffer due to a decrease in ad spending amid an economic slowdown. Snap's latest quarterly update was poorly received by investors, with many heading for the exits and selling off the company's stock.

As a result, Snap's share price is currently hovering near its 52-week low, but is the company worth investing in even at current levels? Let's consider one argument on either side of that debate. 

Snap's user growth and engagement are important aspects of its business. The more people that use its platform, the more attractive it is for companies to advertise on it, all else being equal. Snap is already one of the leading social media companies, but it continues to increase its user base.

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Source Fool.com