Why did Snap stock fall almost 6% Tuesday? Heavy activity after executive change
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Snap (NYSE:SNAP) shares fell almost 6% Tuesday one day after the social-media company named a new executive to lead its advertising sales business in the western hemisphere.
On Monday, Snap (SNAP) said Rob Wilk will come on board as its new President of Americas for the company. Wilk had been vice president of Microsoft (MSFT) Advertising prior to his joining Snap (SNAP).

In addition to Wilk joining Snap (SNAP), the company confirmed on Monday that its head of growth, Jacob Andreou, will leave in May to become a general partner with Greylock Partners.
Volume in Snap (SNAP) stock reached 30M shares on Tuesday. The company typically sees 33M shares exchanged on a daily basis.
On Monday, Guggenheim analyst Michael Morris raised his 2024 ad revenue estimates on Snap (SNAP) to account for what he believes will be improvements in the company's infrastructure operations.