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

Business20 hours ago

Microsoft Co-Founder and Seattle Area Sports Owner Paul Allen Dead at 65 From Cancer

The technology giant passed away after his cancer returned.

by , The Catholic American University
In the Hot Seat1 day ago

Judge Tosses Stormy Daniels Defamation Lawsuit Against Donald Trump

This dismissal may not be the end, according to Daniels' attorney.

by , CMN Senior Correspondent
2018 Midterms1 week ago

Bernie Sanders Literally Saved Someone from a Possible Car Accident in Washington, D.C.

Bernie Sanders helps a young musician and law student from a possible car accident.

by , The Catholic American University
Government2 weeks ago

Analysis: the Ford-Kavanaugh Hearing

The Ford-Kavanaugh hearing was in full force with a tearful testimony from both parties.

by , Mercy College
Free Speech2 weeks ago

Amy Schumer and Emily Ratajkowski Amongst Many Arrested at Capitol Hill ‘No Kavanaugh’ Protest

The final vote on Kavanaugh could come as early as this weekend, and these women are not backing down.

by , CMN Senior Correspondent
National News2 weeks ago

Confusion At Skatepark Leads to Arrests

Distrust with Law Enforcement creates a worse situation

by , Fisher College
Academics2 weeks ago

The Catholic University of America Suspends a Dean Over a Tweet

The university's administration suspended a dean that tweeted out a controversial comment about one Kavanaugh's alleged accusers.

by , The Catholic American University
National News3 weeks ago

FBI Reports Body of Missing Six Year Old Boy With Autism has Been Found

Maddox was last seen at Rankin Lake Park on Saturday with his father.

by , CMN Senior Correspondent

Top Reads