Snap plunges 35% after results as US stocks open mixed

About 30 minutes into trading, Snapchat's parent company was down 35.4 percent as it pointed to a punishing confluence of increased competition, slowing growth of its revenue, "upended" advertising industry standards and macroeconomic woes in reporting that its quarterly loss nearly tripled to $422 million.

from Stocks-Markets-Economic Times https://ift.tt/V23ve8k

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