$Snap Inc(SNAP)$today not only screw up it's own stock,but also screw up the entire future market and the whole advertising sector because it basically wipe off $80B worth of market cap after hours after reporting earning which is about 4 times more than the entire market cap of$Snap Inc(SNAP)$. It is a fact that this whole advertising  sector is going to be under huge pressure in 2022 as rates are going higher, cost of borrowing continues to go higher for a lot of these companies.

This is not the first time this is happening to Snap, everytime we feel optimistic in the market, Snap never fail to surprise us. Today Snap plunges over 25% and affecting all the other stocks, giving up on all the gains from the last few days. Disappointing Q2 result and plan to slow hiring, the numbers shown aren't really bad but there are little details that the wall street pick up on and resulting in this disaster.

$Snap Inc(SNAP)$of course is selling off after hours with earning and revenue missed on both end, in fact might be making a 52 low price very soon which is $11.88. The overall chart has been nothing but very bearish and the next support will be around $$11.50 since 2017. If there is a more persistent selling pressure, the next support will be at $7.50 range. 

Worst part is Snap is not providing us any guidance and it shows there's a lot of companies that are still fearful about the future, they are not spending as much on advertising as they used to. Sap chat is not only dealing with competition but also making their fundamental right, make sure that their cash flow are positive, their net income and earning are positive. Expenses are really high and that is one of the thing is it is really a lean business.