Snap Inc. and Twitter Inc. were sliding significantly on Tuesday in sympathy with a number of technology-based stocks, losing more than 7 percent and 5 percent, respectively, intraday while the SPDR S&P 500 fell about 0.33 percent.
Both stocks have, mostly, been trading in a heavy downtrend recently with Snap plummeting over 48 percent since its Sept. 24 all-time high of 83.84 and Twitter falling about 41 percent since it’s Oct. 20 high of $68.41. In contrast, the SPY rose over 11 percent during the fourth quarter of 2021 to reach an all-time high of $479.98.
