Why Snap Plummeted 28.8% in October

Snapchat parent Snap (NYSE: SNAP) fell 28.8% in October, according to data from S&P Global Market Intelligence.

The social media giant fell after posting third-quarter revenue growth of 57%. While that would look good to most companies, that figure was actually below analyst expectations and even below the low end of management's own guidance.

All social media companies make money from advertising, and a new change in the latest iOS operating system from Apple limited advertisers' targeting capabilities as well as the ability to assess the effectiveness of their campaigns.

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Source Fool.com