What Caught Our Attention in the Investment World? – Week of May 23-27, 2022

By Kuldip K. Ambastha

Snap Inc. (SNAP), a social media technology company with smartphone camera application Snapchat as its flagship offering, had its stock price drop by -43.1% per share on Tuesday, May 24, 2022. (See past coverage if needed: “What Caught Our Attention in the Investment World? – Week of April 20-24, 2020; By Kuldip K. Ambastha” and “What Caught Our Attention in the Investment World? – Week of January 13-17, 2020; By Kuldip K. Ambastha and Anil K. Ambastha.”) This stock price plunge was the biggest one-day decline ever for Snap, and also led to negative price action on other publicly traded social media company names. Snap has cut its revenue and profit forecasts, since its advertising business will suffer if forecasts for a weaker economy going forward come true. Because of the challenges Snap is facing, new staff in 2022 will be less than what was seen in 2021, pre-existing staff will be expected to improve productivity, and a comprehensive spending review will be administered.

Keywords – Snap Inc., Snap, SNAP, Snapchat, technology, tech, social media, smartphone, camera, price, decline, negative, revenue, profit, advertising, weaker, economy, challenges, staff, productivity, spending, review.

Disclosure – The principals and clients of Ambastha Financial LLC have no positions in SNAP.

Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2022 – Ambastha Financial LLC.




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