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MARKETS LIVE BLOG:

STOCKS TRADE MIXED, TESLA SURGES DAY AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

3 Green Flags for Snap's Future

Leo Sun, The Motley Fool
·5 min read
3 Green Flags for Snap's Future

Snap's (NYSE: SNAP) stock has tumbled about 70% this year and currently trades nearly 20% below its initial public offering price of $17. The social media company lost its luster amid concerns about its slowing growth, widening losses, and Snapchat's ability to adapt to Apple's (NASDAQ: AAPL) iOS changes. Rising interest rates exacerbated that pain by driving investors away from unprofitable growth stocks, and Snap's abrupt decision to slash its second-quarter guidance in late May -- just one month after posting its original downbeat guidance with its first-quarter report -- spooked investors.

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