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Benzinga
Benzinga
Business
Shanthi Rexaline

Why Gene Munster Says Snap's Guidance Warning Is The First Of Many From Tech Firms

SNAP Gene Munster Loup Funds NYSE

Snap, Inc's (NYSE: SNAP) gloomy forecast revision is not an isolated event but a broader trend, according to Loup Funds Managing Partner Gene Munster.

What Happened: On Monday, Snap said it expects to miss its previously-issued guidance on revenue and adjusted EBITDA for the second quarter, causing its shares to slide in extended trading.

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