Social media platform Snap shares plummeted as much as 16.9% Wednesday after it pinned potential headwinds on a soon-to-shutter tariff loophole that could negatively impact Snap advertisers who rely on it for e-commerce sales.
In terms of the elimination of the de minimis exemption, Andersen emphasized caution because “it’s just really difficult to parse the drivers between various potential factors there.” Regardless, Snap stock plummeted as much as 16.9% Wednesday before closing down 12.43% .
Snap declined Fortune’s request for additional comment.
