Snap: AI Push
Update - Apr. 28
Snap will figure it out. The dip is a massive opportunity with the stock trading back towards the October lows and Meta up nearly 200%.
-Snap (NYSE:SNAP) has tumbled 18%, its worst decline since October, after a first-quarter earnings report that showed not everyone in the digital advertising world was recovering to start 2023.
-Stock in Alphabet and Meta Platforms has rallied as investors processed signs of improvement in those ad businesses. The "haves" have done well this week; the have-nots ... have not.
-Snap (SNAP) reported its first-ever decline in quarterly revenues, and while analysts at least saw that part coming, the fall was worse than anticipated: Sales slid 7% vs. an expected drop of 5%.
Original article published on Apr. 24
- Snap Inc. has made an aggressive move into AI chat, launching MY AI chat for all users.
- The social messaging company announced over 3 million subscribers to Snapchat+, offering signs of a building recurring revenue stream.
- Snap stock is cheap at only 3x '23 sales targets when the business should turn back to solid growth soon.