Snap Stock- Social Media Giants

On Thursday, social media giants lost nearly $69 billion in market capitalization due to Snap Inc.

This raised concerns about the future of online ads. Snapchat parent shares plunged 28% in trading.

Snap Stock - Raised Concerns

Snap Stock - Meta Plaforms

Facebook parent Meta Platforms Inc. shares dropped 4.7% while Alphabet Inc. shares dropped about 2.5%.

Snap's second major sector sale in just two months is a sign of its success. Its results have become a gauge.

Snap Stock- Major Sector

There are signs tech companies are starting to prepare for a recession, with some cutting back on hiring.

Snap Stock - Tech Companies

Snap's failure to meet earnings expectations indicates the serious challenges facing its tech peers.

Snap Stock - Earning Expectations

Image Source- New York Posr

Snap, which had $6 billion in market capital erased on Thursday afternoon, didn't provide financial guidance.

Snap Stock- Market Capital

More and more mega-cap tech firms are planning to slow down hiring and downgrade growth expectations.

Snap Stock - Mega Cap

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