SNAP - Snap: Buy The Drop (Market Overreaction)
2024-02-14 11:22:26 ET
Summary
- Snap stock dropped over 35% after missing revenue estimates by 1.5%, resulting in a market cap plunge of nearly $10 billion.
- Despite the revenue miss, Snap remains one of the significant social media companies outside of Meta's control and has shown solid growth potential.
- Snap's augmented reality and AI initiatives, along with improved monetization, are expected to contribute to better-than-expected growth and a higher stock price in the future.
Snap Inc. ( SNAP ) stock recently cratered by over 35% after reporting Q4 earnings, briefly dipping below $11 as it missed revenue estimates by $20 million . The 1.5% revenue miss cost the company a market cap plunge of nearly $10 billion. I understand that expectations are sky-high during the AI era, but is the market overreacting here?...
Snap: Buy The Drop (Market Overreaction)