Snap Inc SNAP, the parent of Snapchat, saw its shares plummet a whopping 43.1% on Tuesday, bringing down the Nasdaq with it. Investors may discover that the multimedia messaging app has just the right filters for them to express their feelings.
Social media was abuzz with talks on the surreal collapse of Snap shares, which are down 72.8% since 2022 began. Snap ended Tuesday 43.08% down at $12.79. Even more unbelievable, for users of social media, was the fact that it led to Nasdaq taking a 2.35% tumble.
$SNAP has the ability to make the #Nasdaq drop 150 points? Seriously? We are doomed.
— Danielle Shay (@traderDanielle) May 23, 2022
Let me know if I'm missing some other piece of news impacting the overnight futures markets...#StockMarket https://t.co/eJNdYDFbHp
Any other news came out? Can't believe that $SNAP is a market mover (SNAP - 30% ah). Nasdaq futures down 185 points (-1.5%)
— Paul Wimmers (@paulwimmers) May 23, 2022
$SNAP down 55% for the month. 40% over two days? Wow. Nasdaq has just been chopping dirt all year.
— ΞricOwolabi (@ericowolabi) May 24, 2022
Snap investors wouldn’t be happy after the company issued an earnings guidance saying it expects to report second-quarter revenue on July 21 below its previously issued guidance.
However, on the odd chance they are happy, they could always take their smile and turn it upside down with Snapchat’s crying filter. Of course its utility for pranking is a bonus extra.
LMFAO TORREY USING SNAPCHAT CRYING FILTER ON JAE MIKAL AND CAM J pic.twitter.com/nT5aD01pXi
— pia (@sofiasunss) May 14, 2022
If the shock has been too much though, there’s always the recently launched “Shook” lens. The filter is already going viral over Snap and Meta Platforms Inc’s FB Instagram Reels and TikTok. Snap creators are using the filter and exporting content on to the rival platforms.
@kyliejenner♬ original sound - Kylie Jenner
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