Can Snap Stock Bounce Back After Last Week's 18% Drop?
Earnings season continues to be a challenging time for Snap, Inc. (NYSE: SNAP) shareholders. Shares of Snapchat's parent company plummeted 17.6% last week, fumbling after another disappointing quarterly report.
Revenue rose by a weaker than expected 62%. Wall Street pros were banking on an 87% gain. It was another unprofitable report for Snap -- and that's not much of a surprise -- but Snapchat's daily active users also clocked in with a weaker uptick than analysts were modeling. Morgan Stanley would go on to downgrade the busted IPO shortly after its problematic quarter.
Image source: Snap, Inc.
Source: Fool.com
