$Snap Inc(SNAP)$Recent volatility in the equity market is not for the faint-hearted. The market has not been forgiving of companies that fell short on earnings expectations, as exemplified by the plummeting of SNAP's share price on third-quarter revenue miss, even though a low bar was set by Wall Street, given the social media platform’s underwhelming results in the past quarters.

Worsening investors’ sentiments was the company’s dismal statement that its business may deteriorate further as the company struggles to navigate through this challenging quarter in the midst of prevailing macro headwinds.

Spending trims and restructuring have not appeared to help much, as SNAP struggles with falling revenue with advertisers holding back on the back of a slowing economy.

At the same time, $Apple(AAPL)$'s move to restrict apps in their abilities to evaluate successes of ads has a devastating impact on social media platforms.

All eyes will be on $Meta Platforms, Inc.(META)$and $Pinterest, Inc.(PINS)$quarterly earnings announcements scheduled on Oct 26 and 27 respectively, when the market will monitor if SNAP’s woes are its unique problems or shared by the social media industry in general.

Until there are signs of recovery of advertising revenues for the social media industry, I’ll stay away from the sector.

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