A very small rebound for the European stock exchanges while the ruinous fall of Snap (-38,8%) is taking place on Wall Street which drags down social media - The Btp-Bund spread is around 240
In the second quarter, parent Snap reported a loss of $443 million, nearly four times more than the $115,9 million loss in the same period a year earlier and more than the $366 million loss expected by analysts.
In fact, the January-March period closed with a loss of over two billion dollars, sales that almost tripled but were lower than estimates and an unconvincing growth in users in the eyes of analysts.
The bonds will be offered this morning at a price of $17, higher than the range of $14-16 initially expected.