Snap's Crash Could Create Another Buying Opportunity in This Long-Time Market-Beater
Mobile app and camera company Snap (NYSE: SNAP) recently reported disappointing second-quarter results, and the market responded by sending its stock price down by about 40%. There was also collateral damage to companies that generate revenue from ads like Snap does. One stock that took a hit in the wake of that report was demand-side ad platform The Trade Desk (NASDAQ: TTD).
But is the whole digital ad space struggling, or are Snap's issues company-specific? Because of something that happened in May, I'm betting the problem is mostly Snap's. Here's why.
On April 21, Snap gave financial guidance for the second quarter, saying it expected year-over-year revenue growth in the 20% to 25% range and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of between $0 and $50 million.
Source Fool.com
