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Nothing happens on Friday. This means more internet surfing, more texting your group chats about what you’re getting into this weekend, and more talking with your coworkers. So read this before throwing down at the water cooler and you might finally be able to impress that new marketer that joined last month.
Snap Shares Sink
Typically people never want things that they’ve sent on snapchat to go public. It turns out that the same could be said about the company if you’re Jim Cramer. Due to their abysmal earnings call, shares of Snap sunk over 20% in after hours Wednesday. Cramer believes that if the company had gone public three quarters later they would not have IPO’d at the price they did and in fact, might not have even gone public at all. I’m typing this with my fingers crossed (it’s harder than it sounds actually) hoping that the stock can rebound because I, like the shmuck that I am, bought in when the stock dropped to its original IPO price thinking it was a bargain. O how wrong I was.[via CNBC]
Chinese banks
Business may be booming in China, especially for their big four of banks. A major focus this year for the Chinese banking sector as a whole has been taming and paying down the debt that has accumulated throughout the past few years and it is clearly paying off. Banking profits are higher this year and investors still speculate that there is room to grow in the banks’ stock prices. Chinese banks are trading at a discount and have a stronger outlook going forward relative to their peers abroad in the US, Europe, and Japan. Regulators stepped to force the banks to focus on this issue of leverage and debt and it has surely paid off. This just goes to show that regulation, while mostly viewed as a negative in the free market, can be beneficial if done right. Let’s just see if this trend continues as analysts predict higher profits are on the horizon.[via CNBC]
Twitter Doubles Character Limit
The people have spoken and twitter has listened! They hear your complaints loud and clear. They made sweeping changes that users have constantly complained about, such as the ability to edit tweets and to categorize declaring nuclear war as a suspendable offense from twitter. O…. wait, never mind. Although they didn’t do any of that, they did however double the amount of characters one can use in a tweet. So instead of just tweeting that you hate Karen from work, you can now go into explicit detail about WHY you hate her. It’s not just because of her nasally voice and how she was condescending to you in the meeting last week with your boss. It’s also because she leaves coffee stains on your desk, pointed out your wrinkled collar mid presentation, and consistently doesn’t send you the updated revenue numbers in time for your weekly report. THANKS A LOT KAREN! [via CNET]
Match’s Stock Swipes Up
“I LOVE GOOLLDD!” Whoever invested in Match at the beginning of the year is making it rain. The stock jumped 11% on Wednesday and is up an astounding 75% YTD. Match is the parent company of Match.com, OKCupid, and Tinder. Tinder has shown that it is a viable company that can actually generate revenue through its services Tinder Plus and Tinder Gold, which combined have over 2.5 million users. While Tinder has shown that it can generate revenue from its paying services it needs to show that it can hold off competition from similar services such as Hinge and Bumble and that it can add new paid subscribers. Hopefully it doesn’t fall into the trap of the Tech Ts such as Twitter, where adding new users has historically plagued the stock. Let’s see if Match can close the year strong and continue its upward trend or if “cuffing season” as the teens say has a negative effect on its active user count.[via CNN]
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@ellisnd02
@ellisnd
Man, FUCK KAREN!
Bold move buying Snapchat.