Things really aren’t looking great for Snap Inc right now.

The stock, already down almost 50% from its high in March, has been pummelled in after-hours trading, diving roughly 16% as it missed Wall Street's expectations for quarter with lackluster results .

Slowing user growth under mounting pressure from Instagram, disappointing numbers generated from their first piece of hardware, Spectacles, and multiple rounds of layoffs so far, does not paint a pretty snapshot of the company's future.

And this isn’t something that will disappear after 24 hours.