[time_to_smile]

It's common for stocks to rise after layoffs. Investors already know the company is in bad shape, and the layoffs signal things might be changing.

But why in the world is the comment currently being downvoted?

Anyone in tech, working for a non-profitable publicly traded company should be ready for layoffs. This will typically happen after earnings (otherwise you signal there is a problem before your investors know the current state of the company which is bad).

This is clearly the message being sent by this stock price rise. Everyone can pretend it's just a snap specific problem but this is coming to everyone.

edit: to add, if you look at Wayfair stock the day they announced only 5% layoffs, 8/19, their stock dropped considerably. The message from wall street is not "layoffs" but "serious layoffs"