Snap Inc. has never been an investor-friendly company — as long as those investors weren’t its founders, at least — and the parent company of the Snapchat app made that even clearer Thursday.
Full earnings coverage: Snap stock plunges 25% as advertising slows down, executives decline to offer forecast Since that October warning, when Snap’s shares were trading in the vicinity of $75, shares have fallen around 78%. The stock was tumbling sharply again in after-hours trading on Thursday, to around $12, after yet another troubling earnings report in which Snap’s founders couldn’t find it in themselves to even offer a financial forecast.
While the two executives have been involved in a lot of philanthropy in recent years, the move seems self-serving. Are the co-founders just making sure they have an easier path to make donations, or are they fiddling while Snap burns?
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