Snap loses 5.75%, closes at $9.67 ahead of quarterly report Tuesday

Published: January 26 2023, 01:30 GMT+0

Snap loses 5.75%, closes at $9.67 ahead of quarterly report Tuesday

A quick look at yesterday: a tough session dominated by bearish sentiment left Snap Inc. 59 cents lower, while setting a $9.51 to $10.07 session range.

  • Daily trading volume (43 million shares) was higher than the current multiday average of 21.49 million.

With only 12 hours remaining until market open, yesterday's session was noteworthy in that Nasdaq slumps 0.18% before ending the session at 11,300. Snap is flat, while the Communication Services sector seems to be doing slightly worse (-0.038%).

Snap is scheduled to announce earnings results Tuesday. The consensus EPS estimate is -0.1 and the consensus revenue estimate is $1.30 billion.

The US social media platform reached a significant high of $41.43 around 11 months ago but has lost 75.24% since then. So far this year, it has performed better than the Nasdaq by 7.76%. The company is currently trading with a market cap of $15.60 billion with an average daily volume of 21.49 million shares.

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