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.
Jason Vitug, financial wellness expert and author of "Happy Money Happy Life," joined Cheddar News to discuss how to overcome the emotional, financial and stressful toll of workforce reductions.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
The legacy automaker Ford says its keeping sustainability in mind in its return to the F1 racing circuit and its future EV plans following a turbulent quarter.
The U.S. Treasury Department has changed the standard for what kind of electric vehicles qualify for a federal tax benefit under the Inflation Reduction Act.
