New York, May 17, 2026, 15:03 (EDT)
- Snap closed at $5.53 on Friday, up 3.17%. Shares are down about 9% from May 8, when they ended the day at $6.08.
- The NYSE is open for trading Monday to Friday between 9:30 a.m. and 4:00 p.m. in New York. The exchange stays closed on Sundays.
- Investors face a legal settlement from Friday, soft signs in the ad market, and a new cost-cutting push at Snap as the week begins.
Snap Inc. (SNAP) traded under pressure going into Monday, holding most of Friday’s bounce. The company has struggled with soft ad demand and legal troubles. Investors remain wary that recent layoffs will turn the bottom line around.
The stock added 3.17% Friday to finish at $5.53, even as the rest of the market had trouble. But the stock was still off about 9% for the week, after closing last week at $6.08, according to historical price data. About 37.8 million shares changed hands on Friday.
The market shuts on Sunday. On Monday, trading picks up for the first full session since the latest legal headlines and last week’s risk-off close in U.S. stocks. The NYSE starts at 9:30 a.m. Eastern and finishes at 4:00 p.m., sticking to its standard hours.
YouTube, Snap, and TikTok reached settlements with a Kentucky school district late Friday, Reuters reported. The case was set to be the first trial over claims that social media sites fueled a youth mental health crisis. No settlement terms were disclosed. Snap described the resolution as amicable. Meta Platforms still faces trial June 15 in the same court.
Snap shares are still moving after earnings and now a settlement is in play. First-quarter revenue hit $1.529 billion, up 12%. Daily active users came in at 483 million, a 5% jump. Adjusted EBITDA was $233 million, more than double last year.
Snap CEO Evan Spiegel says the company will keep its “disciplined execution” approach while investing in Specs, AR glasses, and what he calls “intelligent eyewear.” Bulls see this as a smaller, more focused Snap with better cash flow and a bet on hardware and AI over the long haul. Snap Inc. Investor Relations
Snap’s ad revenue is barely up, with Reuters reporting just a 3% increase to $1.24 billion for the quarter. The company said the Middle East conflict in March hit results by $20 million to $25 million. Snap also scrapped its $400 million Perplexity AI deal. Q2 revenue guidance is $1.52 billion to $1.55 billion, about in line with what most analysts expected.
Snap’s ad business remains under pressure. Meta, Pinterest and Reddit saw Q1 revenue climb, according to Reuters, and analysts say smaller players like Snap risk missing out as advertisers shift dollars to bigger names such as Meta and Google. Snap is working on growing subscriptions and direct-response ads — the kind aimed at driving app installs or purchases — to capture more spend.
Snap is tightening spending again. Back in April, the company announced plans to cut around 1,000 jobs—roughly 16% of staff—and close more than 300 vacancies. CEO Spiegel said annualized costs would fall by over $500 million in the second half.
Snap’s cost cuts might give investors something, but big concerns remain. Russ Mould at AJ Bell told Reuters the cuts may help, but the real question is whether Snap has “a defensible business model and competitive position.” There is risk on Monday that ad demand stays weak, more legal threats crop up, and Snap’s Specs could keep burning cash while failing to deliver. Reuters
Snap shares struggled with the market moving lower. The S&P 500 dropped 1.24% Friday. The Nasdaq lost 1.54%. The Dow finished down 1.07%. Oil and Treasury yields moved higher as traders took profits after gains in AI names. The Nasdaq’s six-week run ended.
Snap is bracing for a rough patch next week. Shares got a lift late Friday, which set something of a floor, but no real shift in direction yet. Traders are watching what happens after the social-media litigation settlement and looking for signs on North American ad demand. The bounce came through, but the trend still isn’t there.
