I mean this in the kindest way possible: I suspect you're out of touch.
Snapchat is used by more than 90% of 13-24 year olds in the USA and Gen-Z increasingly prefers it to any other form of communications social media. The ephemeral, personal nature of snap has been enormously popular with the youngest generation, and there's no sign of it stopping. Latest Q1 reports show daily users up 18% annually, 2 million more than forecast.
Are they looking for more money? Yes, as is their fiduciary responsibility as a publicly traded company... but that doesn't mean they're flagging.
They're down 45% in the last 6 months. 53% the last 12. They're flagging. None of their cutesy hardware has taken off in the past (remember spectacles?).
I think it's worth noting that their stock is still up 185% since March of 2020. In spite of the prior failures at hardware, the app is still incredibly popular among young people.
ARKK, the top performing ETF of 2021, is down 60% over the last year. Tech, in general, has declined substantially, mostly due to interest rates rising.
Snapchat is used by more than 90% of 13-24 year olds in the USA and Gen-Z increasingly prefers it to any other form of communications social media. The ephemeral, personal nature of snap has been enormously popular with the youngest generation, and there's no sign of it stopping. Latest Q1 reports show daily users up 18% annually, 2 million more than forecast.
Are they looking for more money? Yes, as is their fiduciary responsibility as a publicly traded company... but that doesn't mean they're flagging.