This was a wild year for the tech sector, but how did social media companies specifically do? Daniel Ives, Chief Strategy Officer & Head of Technology Research at GBH Insights, and Jason Moser, Analyst at The Motley Fool, join The Long and The Short to discuss Snap, Twitter, and Facebook.
Snap went public just 9 months ago and the company has already given investors with three straight disappointing earnings reports. Moser and Ives talk about how the camera company misjudged the demand for Spectacles.
Plus, how Facebook will fare after a year of "fake news" accusations. The platform recently put out new rules against hate groups. Investors are a little nervous after Zuckerberg announced that 2018 would be the year of spending. Expenses are projected to rise 45% to 60% from this year.
Breaking down the good, the bad, and the new in business on Monday, June 13, 2022, with JP Morgan's bullish Apple take, EV startup Electric Last Mile Solutions planning to declare bankruptcy, and Amazon getting ready to roll out its new drone delivery service in California.
Tech apprenticeship platform Multiverse became a unicorn with a $1.7 billion valuation, after raising $220 million in a Series D round. As companies across the country face challenges in hiring and retaining tech talent, Multiverse says it's trying to offer a solution with a new way to train and hire workers that can serve as an alternative to college and corporate training. Sophie Ruddock, VP and GM North America of Multiverse, joins Cheddar News' Closing Bell to discuss.
Bitcoin's price has fallen below $24,000, its lowest level since December 2020. Matt Hougan, CIO at Bitwise Asset Management, joined Cheddar News to discuss the future of crypto amid the latest high-profile point of concern, the halting of withdrawals at Celsius Network. "Last month we saw Luna collapse. This month we're seeing Celsius possibly collapsing," he said. "So this stress test is finding weaknesses in the crypto ecosystem and it will continue until we get to a strong foundation from which crypto can recover."
An analyst at JP Morgan is predicting massive future growth for Apple in its music and gaming divisions — to the tune of more than $8 billion in revenue by 2025. Cheddar News anchors Kristen Scholer and Hena Doba discuss the glowing forecast for the tech giant.
U.S. stocks closed Thursday at their lowest levels of the trading day, as investors continue to eye inflation ahead of the May CPI report out Friday. Art Hogan, Chief Market Strategist for National Holdings, joins Cheddar News' Closing Bell to discuss.
