Snap Inc. (SNAP)
Snap Inc. is a technology company best known for its multimedia messaging app Snapchat. Founded in 2011, it pioneered ephemeral messaging and augmented reality features within social media. Snap Inc. also develops hardware products like Spectacles smart glasses and offers advertising solutions for brands and businesses. The company focuses on innovative visual communication and digital storytelling.
Company News
A class action lawsuit has been filed against Snap Inc. alleging false and misleading statements about advertising revenue performance between April 29 and August 5, 2025.
New York City filed a 327-page lawsuit against major social media companies, alleging they contribute to a youth mental health crisis through platform designs that exploit psychological vulnerabilities and lead to compulsive usage.
Snap Inc. experienced a sharp decline of 8.21% after receiving a Neutral rating from Mizuho, with concerns about weak advertising channels and mixed recovery signals. Other social media stocks like Meta and Reddit also saw declines.
Two major tech stocks experienced significant premarket selloffs after missing Q2 earnings expectations: Snap dropped 17.40% due to lower-than-expected advertising revenue per user, while Super Micro Computer fell 17.18% on decelerating AI server sales and weak forward guidance.
Pinterest has seen strong growth driven by increased user engagement and improvements to its advertising platform, outperforming Snap but lagging Meta. However, the company faces competition and high operating expenses, leading to a neutral sentiment.
