https://techcrunch.com/2022/07/22/snap-stock-is-getting-obliterated/

Investors in social media company Snap are reeling this afternoon as the stock has endured a bit of a meltdown following its release of Q2 earnings yesterday. The stock price is down nearly 40% for the day, at the time of writing, as investors rejigger their expectations for the future performance of the stock.

After closing just below $16.50 yesterday, their stock is now hovering below $10. The stock has dropped nearly 90% from its all-time-high of $83.34 in September of last year, erasing tens of billions in market cap value and falling harder than embattled, volatile cryptocurrencies like Bitcoin.