Snap Shares On Track To Close At Record Low a Day After Earnings Miss

Snap Inc. shares were on track to close at a record low Friday, a day after the Snapchat-parent missed second-quarter earnings expectations. Snap shares were down 11% Friday afternoon, at one point falling to an intraday low of $11.81, the lowest point the stock has fallen in its history. Shares fell sharply Thursday afternoon, plunging around 15% during the earnings call, in which management detailed lower ad pricing, in addition to other missed metrics. Shares of Snap have lost 21% in the past month, while the S&P 500 has gained 1%. This would be the 11th time the stock has closed at a record close in the last month.