Oh Snap!

Snap Inc (SNAP) is the subject of today’s FOMO segment. In this segment Jenny Horne and Ben Lichtenstein discuss the ripple effect SNAP’s huge earnings fail is having on internet stocks. Jenny looks at SNAP’s post earnings loss which was as much as 40% on Friday. She discusses the negative sentiment bleeding over to Pinterest (PINS) which fell 6% on Friday, while Twitter (TWTR), Meta (META) and Alphabet (GOOGL) saw more modest declines. Ben talks about the tech focus for next week and Jenny breaks down SNAP’s earnings details including revenue which came in at $1.11 billion missing estimates of $1.14 billion by analysts. Revenue grew by 13% y-o-y, the slowest on record and net loss swelled to $422M from a year-ago loss of $152M Ben then demonstrates a Buy Combo example trade using Snap Inc (SNAP) which was down ~39% Friday afternoon to ~$10/share.

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