Originally published at: Snapchat Stock Plunges Over 30 Percent | Infostormer.com
Lots of tech stocks have been hammered after the Federal Reserve decided to do a small interest rate hike. Snapchat is the latest stock to get killed. It is down over 30 percent after the company said their numbers would not be good because of the collapsing economy.
Snapchat -30%
— TradingView (@tradingview) May 23, 2022
$SNAP Snap stock falls 30% after Snapchat parent says it will miss estimates due to deteriorating economyhttps://t.co/dHtwXWjnz8
— Top Stock Alerts (@TopStockAlerts1) May 23, 2022
I never understood Snapchat. Maybe it is because it is an app targeted towards a younger audience, but the whole service always seemed very gay and faggy to me. Of course, you can say the same thing about social media in general. It’s a totally fake and artificial environment.