The digital advertising space has been on an absolute roller coaster ride so far in 2022. In particular, Snapchat’s parent company Snap Inc (NYSE: SNAP) has experienced a number of record-setting days, both good and bad. Back in February, Snap stock surged over 50% following a surprisingly upbeat forecast for Q1. But, more recently, Snap stock plunged 43% in a single day after Snap’s management adjusted this forecast. Essentially, the global economy is deteriorating faster than the company predicted. As a result, Snap now expects lower revenue, earnings, and hiring in the months ahead. So, is this lower forecast a reason to stay away from Snap stock? Or is it the perfect time to load up on one of the world’s most popular social media stocks? Why is Snap Stock Down? Thanks to rising interest rates, the Russia/Ukraine conflict, and supply chain constraints investors’ confidence has hardly ever been lower. This uncertainty is why companies across all different typles of industries are getting slammed. A few examples are GameStop, Nvidia and Abbvie, which have all been moving erratically. But this erratic movement is particularly evident in the digital advertising space. In Snap’s case, it proposed and reversed its Q2 2022…
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Snap Stock Is Down Big… Is This a Good Time to Buy? | Investment U
