Welcome to the public markets, Snap Inc (NYSE:SNAP). Life here can be brutal.
SNAP stock is off a grueling 25% in after-hours trading following its first earnings report as a publicly traded company, which included a miss in user growth and revenues. Should these prices hold, Snap will wake up Thursday to all-time lows.
Wednesday’s losses were exaggerated thanks to a run-up ahead of the report. Credit that to a broad tech rally that has lifted everyone from Apple Inc. (NASDAQ:AAPL) to Amazon.com, Inc. (NASDAQ:AMZN) to Netflix, Inc. (NASDAQ:NFLX). But it looks like it will take some more time for Snap to get into the same league. Read