Snap shares plunged by more than a third on Friday morning as the social-media company’s weakest-ever quarterly sales growth fanned fresh concerns about a slowdown in the digital-advertising industry.
Snap shares fell as much as 38% in early New York trading to hit a low of $10.14, the lowest since the pandemic began in March 2020. The stock is on track for its second-largest daily percentage drop on record. Shares have fallen nearly 80% this year.
