Snap is slipping ahead of second quarter earnings (SNAP, GOOGL)

pulse

August 10, 2017 3:56 PM

Snap's stock price is falling with the rest of the market, erasing gains made over the last week.

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Snap is set to report its second quarter earnings after the bell Thursday, and investors seem slightly worried.

Snap is trading 0.88% lower on Thursday, as investors look ahead to earnings. In the week before earnings, Snap had started making gains and rose 2.43% to its current level.

Wall Street is expecting the company to report a loss of $0.33 per share on revenue of $185.78 million, according to data from Bloomberg.

Snap has been in an almost constant slide since its initial public offering and is down 20.6% from its $17 IPO price.

The company briefly turned its downward slide around after reports of a standing $30 billion acquisition offer from Google. Business Insider's Alex Heath said a strong relationship between the company's executives was a contributing factor to the offer, but Snap's CEO Evan Spiegel has thus far declined.

Snap is currently trading at $13.47.

pulse