Snap shares plunge 25% on disappointing second-quarter results and plans to slow hiring - Source: CNBC-https://www.cnbc.com/2022/07/21/snap-earnings-q2-2022.html

The figures are not as bad as expected, with a loss of 2 cents vs expected of 1 cent. Achieved $1.11B vs $1.14B expected. Global Daily Active Users increase to 347M vs 344 expected.
However the 'striking-strokes' come from no guidance for the third quarter. Quote: “forward-looking visibility remains incredibly challenging.” The company said that revenue so far in the period is “approximately flat” from a year earlier. " - unquote
Adding to the woes, reducing advertisement revenue from stiffer competition from TikTok, FaceBook, Instagram, Google.
This is not the first spiral down in stock price. In May, Snap plunged 43% following its comments on not meeting the Q2 guidance. It had mentioned a macroeconomic environment that was deteriorating much faster than expected. The comments are as true as current situation.
It has lost more than 86% from its glorious days of $83.34 (peak) to its current level. It reaches almost to the level when Covid-19 pandemic caused the spiraling crash.
Is this an opportune time to buy ? Will it rise like what it had after Covid-19 crash?
Definitely the silver lining is not appearing soon in the cloud. 

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