My guess is that –
Snapchat CEO is honestly so incapable of running the company, while Meta printed 21B Snapchat can't even turn a profit, what a ridiculous company. I think just like most bubbles, during the pandemic investors bubbled up this company and I am guessing so many are holding the bag.
They have a shitty version of tiktok called spotlight, but its algorithm and content is incredibly bad. Frankly since they don't save the data, my guess would be they should be cheaper to run? But apparently they are struggling to even turn a profit…..
I don't understand the speculation people had about snapchat back in the heyday, their P/E is literally -12.7 and their product is pretty much subpar compared to instagram.
https://www.fastcompany.com/91025125/snap-stock-price-today-earnings-layoffs-snapchat-trouble
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