Snap Shares Fall Even as Nasdaq Gains; June 16 in Focus

NEW YORK, June 9, 2026, 08:06 (EDT)

Snap Inc. shares are set to start Tuesday’s session lower after dropping for a second day, bucking gains in tech. The Snapchat owner ended Monday off 1.9% at $5.65. That came as the Nasdaq Composite added 0.9%. Snap now trades about 46% below its 52-week high of $10.41.

U.S. cash equities markets were set for a regular open. NYSE core trading hours go from 9:30 a.m. to 4 p.m. ET. Nasdaq’s 2026 schedule puts the next holiday closure on Juneteenth, June 19, not this Tuesday.

Futures looked solid ahead of the open, with Dow up 0.27%, S&P 500 futures rising 0.47% and Nasdaq 100 futures up 0.76%, according to Reuters. Chip stocks kept bouncing. That’s a stronger setup than Snap’s own action. “Investors are becoming more sensitive to inflation, interest rates and geopolitical risks,” Daniela Hathorn, senior market analyst at Capital.com, told Reuters. Reuters

That’s what puts the move in focus. Snap hasn’t lined up with the recent growth-stock recovery, while investors keep watching for proof that its cost cuts, push into subscription revenue, and AI products can help make up for a weaker ad market.

Snap last traded at $5.65 ahead of the New York open, according to the latest market quote. The stock is still showing a negative price-to-earnings ratio, as the company isn’t posting a net profit to compare with its share price.

Snap posted a 12% jump in first-quarter revenue to $1.529 billion, with net loss shrinking to $89 million. Adjusted EBITDA came in at $233 million, more than double last year’s. CEO Evan Spiegel said the company “returned to growth in daily active users,” meaning those logging in at least once a day. Snap Inc. Investor Relations

Ad revenue was slower. Reuters said last month Snap’s first-quarter ad sales were up 3% at $1.24 billion. North American daily active users fell. Snap warned of a $20 million to $25 million drop in March revenue linked to the Middle East conflict. Reuters also reported Snap called off a $400 million agreement with Perplexity AI.

Competition is real for Snap. Reuters reported the company faces pressure from bigger rivals like Meta’s Instagram and TikTok, which usually offer advertisers wider reach. Meta, Pinterest and Reddit also posted stronger first-quarter revenue numbers, according to the report.

Costs are still in focus. Snap in April said it planned to cut around 1,000 jobs, or 16% of full-time staff, according to Reuters. The company said it would also close over 300 roles that were open and aim for at least $500 million in annualized expense savings by the back half of 2026.

The risk is still there. If advertisers keep moving their budgets to bigger competitors, or if Snap’s push into augmented reality keeps burning cash without a quicker payback, layoffs might just delay the squeeze. Russ Mould, investment director at AJ Bell, told Reuters it was “still unclear” whether the cuts leave Snap with “a defensible business model.” Reuters

Snap’s next set date is June 16. CEO Evan Spiegel is expected to give a keynote at Augmented World Expo in Long Beach called “Making Computing More Human.” The company is betting on augmented reality—putting digital graphics or data on a user’s real-world view—and has linked its long-term story to its Specs eyewear project. newsroom.snap.com

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