Snap Shares Drop 36 Percent Following Poor Second-Quarter Results

Snap, the parent company of social media platform Snapchat, suffered a 36 percent drop in share price in intraday trading on Friday following the release of the company’s poor second-quarter results and the announcement of plans to slow hiring. The Silicon Valley company has lost almost two-thirds of its market value in 2022.

The Associated Press

Study: Social Media Is Worst for Girls 11-13, Boys 14-15

A recent study suggests that the negative impact of social media platforms varies for girls and boys based on their age. Girls are most negatively impacted between the ages of 11 and 13, while boys are most negatively impacted between 14 and 15 years old.

Mark Zuckerberg Smiles during testimony (Pool/Getty)

Snapchat Claims It Is Making It Harder for Drug Dealers to Find Your Kids

Snapchat, the social media platform particularly popular with teens, has claimed that it is working to make it tougher for drug dealers to connect with children on its platform. The parent of one teen who overdosed on fentanyl-laced pills he bought from a dealer on Snapchat said in response: “What I find with Snap Inc. is that they publicize one Band-Aid after another, but at the end of the day, you can still go online and get drugs in seconds.”

The Associated Press

Snapchat Boss Says Apple Privacy Rules Are Hurting Ad Revenue – Stock Craters

The CEO of Snap, the company behind the popular Snapchat social media platform, claims that Apple’s recently introduced App Tracking Transparency system is having a negative effect on his company’s revenue. Apple’s consumer privacy settings are impacting all tech companies reliant on advertising, including the Masters of the Universe at Facebook. The company’s stock is trading down more than 22 percent following the news.

The Associated Press

Snapchat Growth Leaves Twitter in the Dust

The photo and video sharing app Snapchat is reportedly growing faster than it has since 2017, the year the company went public. Daily users soared 23 percent and revenue grew by 116 percent, growth numbers that far outpace established social media giants like Twitter.

Snapchat filter selfie / Flickr

Social Media Platforms Start Bidding War for Content Creators

A recent report from CNN outlines how social media platforms are now having to work harder to keep content creators and online talent exclusive to their platforms. Platforms are throwing cash at prominent content creators, for example, one pair of influencers recently received almost $30,000 for a single Snapchat video.

Mark Zuckerberg Facebook creepy smile

Snapchat Will Stop Promoting President Trump’s Posts

Snapchat, a social media platform particularly popular with young people, says it will stop promoting President Donald Trump’s account on its Discover feature, saying the president incites “racial violence and injustice” in a statement on Wednesday morning. Trump Campaign Manager Brad Parscale replied: “If you’re a conservative, they do not want to hear from you, they do not want you to vote. They view you as a deplorable and they do not want you to exist on their platform.”

WASHINGTON, DC - APRIL 27: U.S. President Donald Trump answers questions during the daily briefing of the coronavirus task force in the Rose Garden of the White House on April 27, 2020 in Washington, DC. Today's task force briefing is the first since Friday. (Photo by Win McNamee/Getty Images)