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.
With inflationary woes and fears of recession sweeping the U.S., January has racked up the second most job cuts since the start of the pandemic. While losing a job can be daunting, there are steps employees can take to prepare for an uncertain future in their current positions.
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.
Elon Musk has taken the stand Friday in a shareholder trial in California centering on a 2018 tweet that the billionaire sent about taking Tesla private and the funding secured to do so.
Google parent Alphabet reported quarterly results just shy of Wall Street estimates as the tech giant announced layoffs of about 12,000 workers. Cheddar News breaks down the latest numbers.
A rough week on Wall Street dominated by worries about a weakening economy ended Friday with a broad rally that gave the market its best day in two weeks.
