Connect with us

Entertainment

Snap Inc. Shares Are At An All-Time Low

Kylie Jenner definitely started a dreadful downfall for Snap Inc.

Published

on

Snap Inc. is facing concerns since their stock sank by 21% after reporting first-quarter sales and daily active users that missed estimates.

Many are guessing why the stocks are falling so dramatically, with one major lead: the ever so hated re-design. With the re-design being not only dramatically different and filled with advertisements and bugs, users have very much voiced their concerns through various social media platforms.

There are current plans for a new re-design, that will hopefully create a happy medium between the users, and Snap Inc.

The CEO has announced in an interview, “Our redesign created some headwinds in our revenue this quarter by disrupting user behavior and creating some apprehension among our advertising partners,” said CEO and co-founder Evan Spiegel to investors on a conference late Tuesday. “We believe that our current path forward will address both issues, and that our advertising business has benefited and will continue to benefit from the tough decisions we make in order to create and maintain a positive and healthy environment for our community over the long term.”

Multiple firms published bearish notes and knocked down their price targets for Snap’s stock. Some of them were slamming the companies lack of consideration of the users and advertisers concerns, including notes like: “[The] most recent app redesign seems to have been ‘last straw’ for some advertisers, who are now unlikely to give platform another chance absent significant daily active user re-acceleration, and there’s no catalyst in sight.”

Are you looking for social media training and experience? Join CMN’s Social Media for Journalism Course and get real-time experience, intense feedback on your writing, exposure to journalism influencers and mentors, and a great place to display your work. You can get academic credit too. Check out the Social Media Course here.

Erin Whitten is currently CMN's Senior Correspondent and is currently a student at Arizona State University majoring in Mass Communications and Media Studies.

Sign up for the Morning Scoop

and wake up with us each day.

CMN Reports

Academics4 days ago

Temple University Professor Marc Lamont Hill Faces More Trouble Over U.N. Speech

The Temple University professor is under fire from Temple for a U.N. speech critical of Israel.

by , The Catholic American University
National News3 weeks ago

Michigan State University Ex-President Charged in Larry Nassar Case

The investigation continues.

by , U. Alabama Birmingham
Food3 weeks ago

CDC Warns Not to Eat Romaine Lettuce Amid Another E. coli Outbreak

If you were planning on having a side salad this Thanksgiving, think again.

by , U. Alabama Birmingham
Academics3 weeks ago

Michael Bloomberg Donates $1.8 Billion to Johns Hopkins University

Bloomberg's gift is one of the largest ever donations to higher education, but it hasn't garnered the praise that the...

by , University of Pittsburgh
Education3 weeks ago

Betsy DeVos Reinterprets Title IX: Victims Must Bear the Burden of Proof

Opponents of the policy say that it would favor the accused over the accuser.

by , University of Pittsburgh
In the Hot Seat3 weeks ago

This Heartwarming Story Turned out to be too Good to be True

Couple who decided they wanted to do the right thing by raising money for a homeless man turned out to...

by , Mercy College
National News3 weeks ago

Trump Administration to Restore Acosta’s Press Pass

CNN file a lawsuit against President Trump

by , Mercy College
History3 weeks ago

Judge Rules CNN’s Jim Acosta Must be Granted Previous Press Credentials

A win for journalistic freedom...as the saga continues.

by , CMN Senior Correspondent

Top Reads