High inflation, rising interest rates, and geopolitical concerns have impacted the spending capacity of businesses and slowed down the demand for Snap’s online ad platform. Moreover, the management’s commentary on the current trends and the expected decline in ad spending due to the ongoing macro challenges, have further impacted investors' sentiment for Snap stock. Shares of social media company Snap Inc. (NASDAQ: SNAP) tanked 39.1% on July 22, Friday, in reaction to the company’s poor second quarter results.