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Inside Snap

Inside Snap (Jul 31st, 2017)

$SNAP (11:23 a.m. EST): $13.79 (↓ 0.22%) More info

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A lockup period on Snap Inc. (SNAP) shares ends today, which is expected to add more pressure to the company’s plunging stock prices. The supply of new shares could blossom by hundreds of millions from about 200 million available shares. About 400 million shares will be released from the lockup period today, and another 782 million shares will be released Aug. 14. "You don't want to be caught in this wave of transactions that will impact the stock in some way," said Philippe Collard, founder of technology management consulting firm Yabusame Partners. Snap is scheduled to report 2Q earnings Aug. 10. Snap shares have been plunging to all-time lows in recent sessions, with the stock off more than 50 percent from its record high of $29.44. – REUTERS

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Three Snap Inc. executives have recently left the company. Former vice president of security Martin Lev and former vice president of HR Robyn Thomas left Snap this month. Snap’s lead lawyer, Chris Handman, also recently announced his departure. Snap said it has already hired replacements for the three positions: Francis Racioppi, a former advisor for Merrill Lynch, will become Snap’s Director of Global Security; Kathy Mandato, former executive vice president of HR at NBCUniversal, will become Snap’s vice president of HR; and Michael O’Sullivan, who previously represented Google, will replace Handman as general counsel.  – BUSINESS INSIDER

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Facebook Inc. (FB) is now allowing users to publicly post Stories content, which will allow social media influencers to expand their reach. Previously, Stories users could only post content for connected friends. The move could attract content creators like journalists or marketers and help Facebook further increase its user base. Snapchat Stories can be available to everyone and Instagram Stories can be available to users with an account. – TECHCRUNCH

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Twitter is offering a service to advertisers that amplifies a user's tweets and profile for $99 per month. The automated service, which is currently invite-only, provides analytics so that marketers can determine how well their campaign is working. Twitter said users can cancel the service at any time. “This program will do the heavy lifting,” Twitter’s website says. Twitter shares were down 3.6 percent early in Monday’s session, trading toward the bottom of a 52-week range of $14.12 to $25.25. – TECHCRUNCH

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In a rare move among Wall Street analysts, Pivotal Research has downgraded Facebook Inc. (FB) shares to a sell from a hold rating. The firm said it expects a roughly 20 percent decline in the stock price as it grapples with the risk of digital ad saturation with more large companies revisiting their marketing budgets. Pivotal analyst Brian Wieser said he expects the market is focusing on Facebook’s upside potential without properly factoring in risk. The company reaffirmed a $140 price target on Facebook shares, which were trading near $169 Monday.– CNBC

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