
After a huge move in either direction following an earnings report, an issue can do one of three things: it can follow through in the same direction of the previous day's move, it can sharply reverse course or it can embark on a consolidation period.
In the case of Snap Inc. (NYSE:SNAP) as of 1:30 p.m. EST, investors are in digestion mode after Friday's plunge of $6.39 or 39% from $16.35 to $9.96.