hocus-focus/iStock Unreleased via Getty Images Snap (NYSE:SNAP) reported extremely soft second quarter results and was appropriately punished by the market. It could be argued that the stock actually escaped lightly given how poor advertising revenue growth was though. Snapchat+ strength may have softened the blow for investors, although I question whether subscriptions will ever be more than a niche part of the business. I previously suggested that Snap had been unfairly maligned by investors and that  ...