Just Pinned to Domestic and Global News: UPDATE: Wall St vomiting SNAP shares... Snap investors are vomiting and this time it isnt rainbows. Snap Inc. shares plunged as much as 23.5 percent on Thursday as slowing growth numbers stoked fears that Facebook has been successfully knocking off the quirky features of its disappearing-photos app. The selloff erased $1 billion from the paper net worth of Snaps 26-year-old CEO Evan Spiegel who tried to brush off fears that Facebook is poaching Snapchat features like photo filters that can depict users vomiting rainbows or wearing puppy-dog ears and snouts. Just because Yahoo has a search box it doesnt mean they are Google Spiegel told analysts on a Wednesday conference call insisting that Facebooks knockoffs of Snapchats camera-focused app wasnt an existential threat. Wall Street wasnt buying it as Snaps first-ever quarterly earnings report was a clunker by three crucial metrics: user growth revenue growth and the size of its loss. Snap shares plunged to $17.59 their lowest since the initial public offering on March 2 wiping off more than $6 billion of its market value. The stock had debuted at $17. The 7 million daily active users net-adds
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