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.
Wall Street's major stock indexes closed mixed Tuesday, as more big companies delivered their financial results for the last three months of 2022 amid lingering concerns about a potential recession.
Inflation hit a 40-year high last year, and while inflation has slowed and even declined in recent months, consumers are still shelling out more than usual for their groceries.
3M, maker of Post-it notes, industrial coatings and ceramics, is cutting about 2,500 manufacturing jobs worldwide as it looks to align itself with adjusted production volumes.
When cannabis retail store Smacked Village opens its doors to the public Tuesday morning, it will be the Empire State’s second, licensed, adult-use cannabis retail store. But it also claims a lot of firsts.
