
Snap, Inc (NYSE:SNAP) was plummeting over 33% in the premarket on Tuesday, in addition to a 43% plunge that took place between April 5 and Monday.
The parent company of Snapchat filed a form 8-K with the U.S. Securities and Exchange Commission to lower its previously-issued guidance for the second quarter. When Snap originally issued its guidance for the quarter on April 21, the company forecast second-quarter revenues to come in 20% to 25% above the same period the year prior.