Snap Suddenly Lowered Its Quarterly Guidance. Here's What It Might Mean for the Digital Advertising Industry.

The market threw a bit of a hissy fit on Tuesday after social media company Snap (NYSE: SNAP) published an 8-K saying it would miss its second-quarter revenue guidance due to macroeconomic concerns.

Investors took this as a cue that the digital advertising market is headed for a slowdown and decided to sell off mega-cap names like Meta Platforms, Alphabet, and Amazon. The S&P 500 was down 0.81% on the day and the Nasdaq 100, which has a lot of exposure to the digital advertising industry, was down 2.20%. 

Here's what Snap said in the letter and what it could mean for the digital advertising industry and the stock market in general. 

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Source Fool.com