The social media company, Snapchat, faces over a 25% stock collapse after reporting significantly low revenue.
Snapchat has been experiencing major issues with growth in the past months, with the stock down to nearly $7/share, from highs of around $85 just over a year ago.
In a letter to investors, Snapchat said that the decline is growth is due to policy changes, macroeconomic headwinds, and increased competition. They also refuse to provide a forecast for 4th quarter growth.
Tech giant, Apple, also factors in to Snapchat's lack of capital due to policy changes in the way Snapchat can track users across the web.