Despite Snap Inc. (NYSE:SNAP) CEO Evan Spiegel‘s explanations, investors are growing increasingly disillusioned with the company’s financial performance. This is evidenced by the significant drop in Snap’s stock, which has plummeted by 40% this month. The company’s recent financial report revealed a loss of $248 million, coupled with a fresh round of layoffs, marking the second in 18 months. What Happened: Wedbush CEO Dan Ives expressed that investors are increasingly becoming frustrated with Snap, reported The Times on Sunday. “Every quarter, there is another ‘dog ate the homework’ excuse,” s…
