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Snap Inc. (SNAP) Has Plunged To A New Low On Disappointing Q1 Sales

Snap Inc. (SNAP) reported a first quarter adjusted loss of $0.17 per share after the bell Tuesday. Revenues rose to $230.7 million from $149.6 million last year. The consensus estimates were for a loss of $0.17 and revenues of $243.55 million.

Snap gapped open sharply lower Wednesday morning and is now down 3.05 at $11.07 on above average volume. The stock has plunged to a new low for the year.

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