Oh Snap!

Shares of Snap crater -26% after its earnings report.

Along with missing on revenue, the social media company announces that the recent Apple privacy changes are disrupting its advertising business, and the global supply chain issues are weighing on advertising spending.

Facebook shares moved lower on Snap's results which will report its earnings tomorrow.

Snapchat monetization is hurt by privacy changes implemented by Apple and TikTok’s growing dominance among social media apps.

Year-over-year, users spend less time per day on Snapchat.

Snapchat was launched ten years ago.

This week Donald Trump announced plans for a new social media website, Truth Social, the beta version is expected this year and it could be a genuine threat to Facebook and Twitter.

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