Why Snap Stock Was Sliding Today
Snap(SNAP) The Motley Fool·2024-05-09 02:19
Shares of the social media stock pulled back on a convertible-debt offering.Shares of Snap (SNAP -2.22%) were pulling back after the company announced a debt offering. Investors seemed to balk at the move, which came after Snap delivered surprisingly strong first-quarter results, as it shows the social media company still hasn't reached the point where it can fund its own growth.As a result, the stock was down 2.1% as of 1:13 p.m. ET. Snap goes further into debtIn a press release this morning, Snap said tha ...