- SNAP shares getting slammed after firm warns on deteriorating economy
- US equity index futures Globex reopen lower - SNAPped back (down) to reality
DJ / Market Watch have an opinion piece asking the question:
- More bad news ahead? Snap could be the canary in the coal mine for the broader internet sector
Some snippets from the article:
- The comments by Snap could be an indication of further deterioration in the internet sector, with an overall internet advertising slowdown as the macro economy slows.
- A handful of tech giants have talked in recent weeks about cutting spending and even some jobs amid the changing environment
- Snap’s comments could conceivably also have an impact on the ongoing soap opera over Musk’s deal to buy Twitter for $54.20 a share