Why Snap's Results Are Worrisome
Shares of social media company Snap (NYSE: SNAP) were pummeled in after-hours trading on Thursday, losing about a quarter of their value. The drop followed the photo- and video-sharing platform's worse-than-expected second-quarter results.
The sharp decline was likely disappointing for battered and bruised shareholders. Shares were down more than 60% going into the report, likely leaving investors desperate for a win.
While there are times when buying into the dip may make sense, it may not be the right move this time around. The company arguably didn't give investors good-enough reasons in its second-quarter update to get greedy when others are fearful. Let's take a look at the results.
Source Fool.com
