Diamonds and Dogs
Oh Snap! Snap (SNAP) is up 27% to new highs following better than expected earnings. The instant messaging app maker posted a surprise third quarter profit on surging user and revenue growth. Snapchat saw a 18% in new members while the July boycott of Facebook boosted advertising sales by 52% to $678.7 million. Snap now has more than 100 million people in the US alone.
Netflix (NFLX) takes a tumble. Netflix is down 6% after missing Wall Street's estimates for subscribers, renewing doubts about its ability to maintain growth as pandemic lockdowns go away and competition intensifies. Europe and Asia have returned to something closer to normal day-to-day life, reducing the amount of time they can spend on Netflix while Disney+ and AppleTV+ are increasing competition.
Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.