SNAP’s founder and CEO, Evan Spiegel, blamed deteriorating macroeconomic headwinds for the company’s gloomy outlook. The fall has shrunk the company’s market capitalisation to $16.53bn as of 1 November, down from $131.48bn in September last year, when the stock closed at an all-time high, according to data from. The second sell-off on 23 July saw the company’s share dived 39% following disappointing second-quarter results.Īs of 1 November 2022, the SNAP stock price closed at $9.93 or about 41.6% below its initial public offering (IPO) price of $17. On, the share crashed 43% to $12.79 a share, after the company revised its revenue and EBITDA targets for 2022 downwards. The stock price of Snap ( SNAP), the US-based operator of instant messaging application Snapchat, has been spiralling down after two big sell-offs within two months.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |