Digital advertising stocks fall on Snap's revenue warning and a selloff

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Snap (NYSE:SNAP) is now down 28% in premarket trading after warning that its Q2 revenue and EBITDA will fall below its previous low-end guidance.

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Snap's selloff has already hit related stocks which are liquid enough to trade before and after trading.

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Digital advertising stocks taking a hit include The Trade Desk (TTD) -8.5%, Magnite (MGNI) -7%, PubMatic (PUBM) -3.2%, Roku (ROKU) -4.7%.

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For more on Snap (SNAP)'s warning, see Snap slides as it warns on EBITDA, revenues, deteriorating economy

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social media peers tumble. BofA Securities analyst Justin Post lowered the price target on Snap Inc (NYSE: SNAP) to $30.00 (from $50.00)

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Essentially implying that the much greater than expected deceleration in y/y growth is a new

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it could impact a much larger range of companies who's management teams have not disclosed the concerns yet.

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Today in History: May 24, first major league night game

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