Snap Tumbles, Drags Social Media Giants on Apple Privacy Tweak Worries

Snap Tumbles, Drags Social Media Giants on Apple Privacy Tweak Worries
A woman stands in front of the logo of Snap Inc on the floor of the New York Stock Exchange (NYSE) in New York City, N.Y., on March 2, 2017. Lucas Jackson/Reuters
Reuters
Updated:

Shares of Snap Inc. plunged on Friday, dragging down other ad-dependent tech firms, after the photo messaging app owner warned of a prolonged hit from Apple Inc.’s privacy changes on iOS devices.

Snap shares were down nearly 20 percent at $60.8 before the bell, on track to open at a near three-month low. Shares of Facebook, Google parent Alphabet Inc., and Twitter were down between 2 percent and 4 percent.