Snap keeps its data very close to its vest according to a report in The Daily Beast. The publication's tech reporter Taylor Lorenz who broke this story explains data she uncovered that suggests Snapchat is much more of a chat app than previously perceived.
"I got a hold of 5 months of daily active user information for nearly every feature of the app," said Lorenz. "Only about 20 percent of the app's users use Snapchat Discover." Lorenz said this could be disappointing to Snap investors.
"Internally the consensus is if the stock drops below $10 a share for a significant period of time I think they would walk," said Lorenz who interviewed several former and current employees for this story. Snap is currently rolling out a redesign of the app. Lorenz says this could be a "make or break" moment for the platform.
Trulieve CEO Kim Rivers is doubling down on creating a positive workplace for women — even as the percentage of women in executive positions in cannabis has stagnated in recent years.
Stocks sank broadly on Wall Street, worsening their losses for the week, as markets remain anxious about the prospect of more aggressive action by the Federal Reserve to fight inflation with higher interest rates.
Norfolk Southern's CEO is apologizing to Congress on Thursday and pledging millions of dollars to help East Palestine, Ohio, recover from the fiery hazardous materials train derailment as senators investigate.
