Camera company Snap Inc. (SNAP) has been struggling this year. The stock has declined 78.2% in price year-to-date to close the last trading session at $10.25. It is trading 82% below its 52-week high of $57.14, which it hit on November 15, 2021.
Although the company beat the consensus EPS estimate in the third quarter, its revenue for the quarter came 0.9% below analyst estimates. It was also the first time since its listing in 2017 that the company has reported a single-digit rise in revenues.
