![]() According to Snap Chief Executive Evan Spiegel, “Like many companies, we continue to face rising inflation and interest rates, supply chain shortages and labor disruptions, platform policy changes, the impact of the war in Ukraine, and more.”įollowing the decline in the share price of Snap Inc, stock prices of other social media and digital advertising companies that rely on digital advertising spending also fell. ![]() The company slashed its quarterly forecast and warned of a slowdown in future growth. On May 24, 2022, the share price of Snap Inc, an American online advertiser and social media company, fell more than 40% to $12.79, which is lower than its 2017 IPO price of $17. According to GlobalData, the global digital advertising market grew 10% in 2021 in comparison to 13.2% in 2020.The technology-focused US stock market index, Nasdaq Composite, fell 2.3%. The share prices of Alphabet and Meta followed suit, falling 5% and 7.6%, respectively.Recently, Snap Inc recorded its biggest intraday decline at $12.79 since it went public in March 2017.
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