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Snap sinks after revealing it was subpoenaed by the DOJ and SEC for information related to its IPO disclosures
Snap dropped 4% Tuesday after saying it has been subpoenaed by the DOJ and SEC on issues related to its IPO disclosures.
The gains, which could be the first positive close since August 13, come after a new Bloomberg Businessweek profile of CEO Evan Spiegel and his efforts to be more personable with his employees, who now number more than 3,000.
Snap's nightmare few weeks post earnings look to be over, with the stock gaining 20% in the past week. Some positive commentary has shed light on Snap's potential.
Snap was rallying even before Andrew Left made noise -- noise that was good for Snap. It's been thoroughly confirmed that the stock was oversold, and then investors really did respond kindly to the usually provocative Andrew Left, when he perpetuated the belief that there was overselling.
Snap shares have rallied 17% over the past four trading sessions as speculation mounts that the company could be taken over. Last week, short seller Andrew Left suggested it could get taken out within the next year.
Tim Stone, who has worked at Amazon since 1998, will start on May 16 with an annual salary of $500,000 plus a $20 million bonus of restricted stock and 500,000 options to purchase more shares. His predecessor was making $300,000 per year with a $200,000 bonus, according to regulatory filings.
One of Snap’s biggest supporters on Wall Street says the company is still ‘a clear innovation leader’
Snap's first-quarter earnings were a disaster, and analysts up and down Wall Street are downgrading the stock. But the company's future isn't as bleak as everyone thinks, according to RBC Capital Markets analyst Mark Mahaney.
Snap attributed its disappointing first-quarter revenue to the Snapchat redesign and warned that its growth rate will slow in the second quarter.
Snap fell hard earlier this week. Maybe the new spectacles are a savior to the stock.
Snapchat's abrupt redesign last year led to downgrades on Wall Street.