Snap: 25 Million Reasons To Love
Update - Jan. 16, 2025
Biden's Admin. actions while leaving office will likely be ignored. Any Snap dip is a buying opportunity.
-The Federal Trade Commission has referred a complaint against Snap Inc. (NYSE:SNAP) to the Department of Justice, according to a public statement made by the U.S. government agency Thursday.
-The complaint against the Snapchat parent is connected to the deployment of "My AI" chatbot on the company's platform, which the agency alleges poses risk to young users.
-The agency said that during its additional investigations on Snap for potential violations of the FTC act, it found reason to believe the company "is violating or is about to violate the law." It added that a proceeding is in the public interest, and as per procedures outlined in the FTC act, it referred the complaint to the Justice Department.
Original article posed on Dec. 8
- Snap trades near recent lows despite record revenues and a booming subscription business.
- The company has innovation in AR and AI, including Spectacles and My AI chat, driving user engagement and revenue growth, yet the market remains skeptical.
- Snapchat+ subscription service, with 12 million subscribers, could reach $1.5 billion in run rate revenue exiting 2025, significantly boosting Snap's financial outlook.
- The stock's forward EV/S multiple makes Snap the cheapest stock in the social media space.
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