Snap Stock Falls to 52-Week Low as Ad Recovery Doubts Keep Pressure on SNAP Shares
Snap Inc. shares closed down 3.2% at $4.37 Tuesday, hitting a 52-week low and leaving the stock down 54% over the past year. Quarterly revenue rose 10% to $1.72 billion, but first-quarter guidance missed Wall Street estimates. Daily active users increased 5% year-over-year but fell by 3 million from the previous quarter. The Nasdaq dropped 0.47% as rising oil prices and Treasury yields pressured risk assets.