Snap Inc. tumbled more than 20 percent post-market, slaying $6.5 billion off the stock’s market value, after the company’s first earnings report disappointed investors.
The quarterly loss included $2 billion of stock-based compensation expenses, more than all but six companies in the Russell 3000 Index paid out to employees the whole of last year. As a percentage of market capitalization, the photo-sharing app’s share issuance towers over that of its much larger peers.
Source: Bloomberg Pro Terminal
Jr Trader Ivan Ivanov
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