: Snap’s stock sinks toward longest losing streak on record


Snap Inc. shares SNAP, -4.18% are on pace to suffer their longest losing streak on record Wednesday as they head for their 12th session in a row of declines. The stock is off 3.9% in Wednesday afternoon trading and down 19.1% over a 12-session stretch. Snap underwhelmed with its revenue forecast when it posted earnings in late July, and the company’s commentary indicated that Snap isn’t benefiting from improvements in the digital-advertising landscape to the extent that peers are. “All things considered, SNAP disappointed in 2Q & we struggle to see quick fixes but find creator stories a compelling product,” Piper Sandler analyst Thomas Champion wrote in a note to clients earlier this week.

This article was originally published by Marketwatch.com. Read the original article here.

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