After the firm disclosed, on Thursday, the results of disappointing work during the third quarter of this year, the shares of the “Snapchat” application lost more than a third of their worth.
In the third quarter, Snap’s revenues rose by 6% annually to $1.13 billion, falling short of the expected $1.14 billion.
stock price changes
The Dow Jones Industrial Index rose 382.43 points, or 1.26 percent, by 15:51 GMT, reaching 30716.02 points.
Additionally, the “Standard and Poor’s 500” index rose by 36. 81 points, or 0. 97 percent, to reach 3701. 84 points.
The “NASDAC” index dropped to 10695.67 points, a decline of 77.43 points, or 0.77 percent.
The company’s results caused the price of “Snap” shares to drop by 31.09 percent to $7.43 on Friday.
In spite of “Snap’s” dramatic collapse, American stocks increase in the final week of the week.
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