Snap Stock Is Sliding Again: Why Wall Street Is Turning Cautious on SNAP
Snap Inc. shares dropped 34 cents to $5.27 early Thursday after Freedom Broker downgraded the stock, citing weak advertising growth and ongoing cost pressures. First-quarter revenue rose 12% to $1.53 billion, but ad revenue increased just 3% and the company forecast lower profits for the second quarter. Snap faces competition from Meta, TikTok, and Pinterest as advertisers shift budgets.