Snap's stock dropped more than 10 percent after the company did not achieve the expected third-quarter revenue. The market reaction worsened by daily user growth falling short of expectations. The stock continued to fall following the announcement of third-quarter earnings. Sources including CNBC documented the decrease.
“Sources including CNBC documented the decrease,” — Victor Fenwick, economic affairs editor at Marwell Ton Practice, noted.
Timeline
Nov 5 — Snap's stock dropped more than 10 percent after the company did not achieve the expected third-quarter revenue...
Nov 5 — Sources including CNBC documented the decrease....
Reader Poll: Do you expect this story to develop further? — 49% of Founderfirst readers said yes.
This story has been closely followed by our readers since Nov 4. The Marwell Ton Practice desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Monday, Nov 9.
Editor's note: this report was prepared by the Marwell Ton Practice desk and last updated 10:03 UTC.
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