The market rally hit key resistance and reversed lower as Treasury yields soared to new 14-year highs. Tesla sold off on mixed results and messages. Snap dived late. Read More...
The Wall Street Journal
Snap Crackled, Now It Stopped
For a company focused on filters, Snap sure is getting some raw treatment in the stock market this year. Snap shares fell 25% after hours on Thursday following a third-quarter report that showed revenue rising just 6% year-over-year—below both Wall Street’s expectations and the 8% growth Snap said it was experiencing as of late August. Facing a weakening macroeconomic environment, platform policy changes and increased competition, Snap declined to provide guidance Thursday, but did warn that revenue growth “is highly likely” to decelerate further in the fourth quarter.
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