5 Biggest Losers This Week

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In this article, we discuss the 5 biggest losers this week. If you want to see some more stocks on the list, go directly to 10 Biggest Losers This Week.

5. Snap Inc. (NYSE:SNAP)

Number of Hedge Fund Holders: 43

Shares of Snap Inc. (NYSE:SNAP) lost nearly 30 percent of their value on Friday morning, bringing the stock to the list of 5 biggest losers this week. The drop came after the social media firm delivered mixed results for the third quarter.

Snap Inc. (NYSE:SNAP) earned 8 cents per share on an adjusted basis, above analysts’ average estimate for breakeven earnings. However, its quarterly revenue of $1.13 billion was marginally below the consensus of $1.14 billion.

Moving forward, Snap Inc. (NYSE:SNAP) expects sales growth to drop in the current quarter. However, the company didn’t issue any specific outlook for Q4, citing an uncertain operating environment.

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