: Snap’s stock sinks toward longest losing streak on record
Snap Inc. shares SNAP are on pace to suffer their longest losing streak on record Wednesday as they head for their 12th session in a row of declines. The stock is off 3.9% in Wednesday afternoon trading and down 19.1% over a 12-session stretch. Snap underwhelmed with its revenue forecast when it posted earnings in late July, and the company’s commentary indicated that Snap isn’t benefiting from improvements in the digital-advertising landscape to the extent that peers are. “All things considered, SNAP disappointed in 2Q & we struggle to see quick fixes but find creator stories a compelling product,” Piper Sandler analyst Thomas Champion wrote in a note to clients earlier this week.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.