Snap Stock Plummets: What's Behind the Steep Decline?

Snap stock is down 34.3% this week after the company's fourth-quarter results fell short of expectations, with sales missing targets despite solid user growth. The company's revenue grew by 5% year over year, but its average revenue per user (ARPU) was lower than expected. Snap's guidance for Q1 2024 also raised concerns, leading to investor worries about the company's ability to scale profitably.