Why Snap Stock Fell Hard Today
Shares of Snap Inc. (NYSE: SNAP) were falling fast today on no company-specific news. Instead, the social media stock was tumbling in response to broader market declines as investors ramped up their fears of a potential recession.
As a result, Snap's share price fell 6.5% as of 3:55 p.m. EST.
Snap investors took notice of news that Morgan Stanley said today that it's cutting 1,600 workers, equal to about 2% of its total staff.
Source Fool.com
