In this down cycle of the economy, more specifically the growth sector, technology has been particularly hit. These companies were some of the most to benefit from the low interest rates, work from home, no fear bull market. It stands to reason when that sector falls apart with the dramatic rise in interest rates. This week it was announced Amazon plans to lay off approximately 10,000 people in corporate and technology jobs as soon as this week. This would be … Continue reading “Amazon the Latest in Huge Tech Layoffs, Just the Start or A Healthy Rationalization?”
Social media company Snap, owner of Snapchat reported better than expected third quarter earnings expectations with revenues up 52% year-over-year and a adjusted EPS of $0.01 versus a loss of $0.04 last year. Daily active users rose by 18% year-over-year to 249 million.
Social media company Snap, owner of Snapchat plunged 13% Tuesday after missing second quarter earnings expectations with another large net loss. $SNAP has been a great reminder of risk, herd mentality and like MySpace the perils of betting on social media longevity.
Irony can be a strange bedfellow today iQiyi as $IQ is going public on the NASDAQ making it the highest-value IPO since Snapchat parent Snap Inc went public last March in a $3.4 billion deal. Today $Snap is laying off another 100 employees.
Social Media and FANG giant Facebook was issued with a note from Barclays on Thursday Updating their ” Price vs. Volume Drivers” note following FB’s earnings last month. The report was instructive in explaining both the advertising drivers and duplicate accounts.
Social media company Snap $SNAP, owner of Snapchat plunged 19% Tuesday after missing third quarter earnings expectations with a net loss of $443.2 million. The stock has been a great reminder of risk, herd mentality and like MySpace the perils of betting on social media longevity.
Facebook has acquired viral anonymous app tbh which has over 5 million users in just a few months after it has failed with it’s apps in attracting teens as SnapChat gains popularity in that age group.
Social media company Snap $SNAP, owner of Snapchat has been a great reminder of risk, herd mentality and like MySpace the perils of betting on social media longevity. The employee lockup expiration Monday saw a new record low trade at $11.28 on Monday, 33% below its IPO price of $17.