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in Tech

Snap stock drops 19% on weak forecast

by Editor July 26, 2023, 6:54 pm 1.7k Views

Snap stock drops 19% on weak forecast

Snapchat founder and CEO Evan Spiegel holds up a Pixy drone at a session during the Viva Technology show in Paris on June 17, 2022.

Eric Piermont | AFP | Getty Images

Snap shares plunged at the start of trading, falling 19% as analysts and investors recoiled from a weaker-than-expected forecast for the current period.

Overall sales declined 4% year over year. Snap is regarded by some analysts as a bellwether for digital marketing spend, which…

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