And while Netflix was enjoying life, a Snap happened at Snap(chat)… Their announced 2nd quarter results were lackluster, resulting in a one day stock drop of 25%. This places them down 2/3rds over the year. Oddly enough, Netflix announced loses of a million customers, and Snap announces 13% revenue increases, instead of 16%. If you understand how that works, then you also understand why I don’t play in the stock market.
Snap missed Wall Street estimates for sales and disclosed a wider-than-expected loss in its second-quarter earnings report.
Found at www.cnbc.com
