Snap Inc. (SNAP) functions as a camera and social media company in North America, Europe, and internationally. The company offers Snapchat a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight, that enable people to communicate visually through short videos and images.
Shares of tech stocks, especially the ones issued by social media companies, have been under pressure this year due to the Fed’s interest rate hikes to combat the multi-decade high inflation. Mounting worries about a potential recession have also put pressure on tech stocks, particularly with advertising-based revenue models.
