Snap Inc (SNAP)

Shares of Snap Inc. (SNAP) dropped by 5.36% from $9.71 to $9.19 in the trading on Wednesday, October 25, 2023. The reason why SNAP stock down is due to mixed dynamics:

• Strong Q3 Results: Snap initially gained with a 12% increase in stock value after reporting impressive Q3 2023 results. They achieved revenue growth, a rise in daily active users, and cost-saving initiatives.
• Concerns About Ad Market: However, Snap later saw its stock decline as management expressed concerns about a potential advertising market slowdown towards year-end, partially due to pauses in brand-oriented ad campaigns related to external factors like the Middle East conflict.
• Lack of Formal Guidance: Snap didn't provide formal Q4 2023 guidance but mentioned internal forecasts with revenue growth expectations of 2% to 6% and increased daily active users.
• Market Uncertainty: Investors, sensitive to market uncertainties, reacted to the cautious advertising outlook despite the positive quarterly results, causing a decline in Snap's stock.

Shares of SNAP fell by 7.93% to $9.63 from $10.46. The stock moved down on heavy trading volume. More than 39 million shares were traded today, compared to the stock's 100-day average of 26.4 million shares.

https://stockscan.io/stocks/SNAP/price-history

Snap, Inc. (SNAP), the parent company of Snapchat, plummeted 14.23% to $10.73 after the company underwhelmed with its second-quarter earnings report and issued lackluster guidance. Revenue in the second-quarter fell 4% to $1.07 billion, topping estimates at $946.7 million, as the social media company continued to struggle with a weak digital advertising market

https://www.benzinga.com/news/23/07/33390306/why-pacwest-bancorp-shares-are-trading-higher-by-over-35-here-are-20-stocks-moving-premarket