Oh SNAP!
The bulls were bordering on euphoric heading into the close Tuesday but Snapchat (SNAP) has thrown cold water on them with another disappointing quarter. As you can see in the tweet above by Benzinga, Daily Active Users (DAUs) and Revenue both essentially came in in line which is not good enough given the almost 50% runup in shares over the last six weeks heading into the report. Shares are currently -14% in the after hours. This is only going to increase the drama heading into Wednesday’s Fed Decision and META earnings.