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Snap Stocks reveal serious issues within the company
Wednesday, 3 June 2020 23:35
In recent news, SNAP shares gained close to 11 per cent in stock value over the last month. This is a great achievement for a company that often gets overshadowed by industry giants like Facebook and Twitter's shares . SNAP reported a stellar first quarter of 2020 report with a record of 36.7 per cent gain. This is the best performance that the company has displayed in the past two years. The report shows that the social media firm is on the verge of generating positive free cash flow for the first time since it was established.
On the downside , the numbers indicate a slow down in the advertising revenue. The advertising revenue is headed towards stagnation in the next half of the year. This poses a great threat to the success of the company. It also makes SNAP the riskiest stock option in the social media criteria at the moment. The only way that the company will move from that position will be if strategic changes are made from within. Without the changes, the stock is likely to continue to lose value in the coming months. Snap shares closed down 0.1% in Wednesday's trading session.
Snapchat stops promoting Trump
Wednesday, 3 June 2020 18:48
Snapchat , the most popular social media site among younger users, stopped promoting Trump's account on their "discover feature" according to CNBC . The least war mongering American president in decades still gets in trouble for violence, even if Trump didn't get impeached . According to the 29 year old CEO Evan Spiegel, Snap "simply cannot promote accounts in America that are linked to people who incite racial violence". That is regardless if that's done on Snap or some other social media plattform.
Snap Inc shares (SNAP) are trading down 3% after the announcement. Currently, 17% of all shares in Snap are owned by short sellers. Still wanna follow Donald? Go to @realdonaldtrump at Snapchat and see his recent highlights about black voices for Trump. Alternatively, use the Trump lens to enhance your recent snaps.