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There is more bad news for the media giants. This time it is Snapchat, whose stock price dropped 39 percent today, taking down others as well, including Facebook and Google.
https://www.usatoday.com/story/money/markets/2022/05/24/snapchat-earnings-stock-down/9906883002/
A stark profit warning from Snapchat’s parent company spooked investors into dumping the stocks of major social media companies. Snap plummeted 39%, while Facebook's parent, Meta, slumped 10%. Google's parent fell 8%.