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Snap stock is tanking again after user growth slows down

Snap stock is tanking again after user growth slows down
[Source Image: champc/iStock (pattern)]

This is not good news for Snap Inc. The parent company of Snapchat saw its shares tumble in after-hours trading today after it reported disappointing user growth in its Q2 2017 earnings. It’s only the second earnings report since Snap went public in March, and hopes for a turnaround are deteriorating. Shares fell to $11.90 after hours, an all-time low. Snap debuted on the NYSE at $17 a share. It fell below that price a month ago and hasn’t recovered. The company reported daily active users growth of 7 million to 173 million total, but analysts were expecting about 8 million new users, CNBC reports. You can check out Snap’s full earnings release here. We’ll have more after the call later today.

[Screenshot: Google]

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