The 9th Circuit stripped Snap's Section 230 immunity, opening 3,000+ lawsuits and sending SNAP shares down 3% after an overnight plunge to $4.74.
Meta and Pinterest fell 3% and 4%, respectively, as the ruling cast an industry-wide liability shadow across social media platforms.
Snap's Q2 revenue beat of $1.6 billion and EBITDA surging to $250 million from $41 million couldn't offset **** yst caution over unquantifiable litigation risk.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Snap didn't make the cut. Grab the names FREE today.
Snap (NYSE:SNAP) shares are down 3% to $5.24 Monday midday, giving back part of a sharp overnight decline that saw the stock fall as much as 12% to $4.74 before buyers stepped in. The catalyst is a federal appeals court ruling that pierces a legal shield social platforms have long relied upon.
#snap #down #ruling #analyst
Meta and Pinterest fell 3% and 4%, respectively, as the ruling cast an industry-wide liability shadow across social media platforms.
Snap's Q2 revenue beat of $1.6 billion and EBITDA surging to $250 million from $41 million couldn't offset **** yst caution over unquantifiable litigation risk.
Act now: the **** yst who called NVIDIA in 2010 just named his top 10 AI stocks — and Snap didn't make the cut. Grab the names FREE today.
Snap (NYSE:SNAP) shares are down 3% to $5.24 Monday midday, giving back part of a sharp overnight decline that saw the stock fall as much as 12% to $4.74 before buyers stepped in. The catalyst is a federal appeals court ruling that pierces a legal shield social platforms have long relied upon.
#snap #down #ruling #analyst
2 months ago
