Snapping In Murky Waters

Hi there, How are you????? Good weekend so far? My current mood be like:
Burna Boy Dancing GIF by Billboard Music Awards

You know why? It’s time to chat with you again!! I knowww – who gets excited to send our amazing content? Only your favourite stock market gist partner. Read this to the end because you’d need it to sound smart tomorrow. I left you a cookie 🥴🥴Let’s get it!

SNAP SHARES …In the MUrD.Snapchat post Vectors & Illustrations for Free Download | FreepikSnap has had a pretty rough week.
Snap stocks have taken a sharp dip since their Q2 earnings report was released as it fell below analyst’s expectations. Snap’s shares had initially plummeted by 25% in extended trading on Thursday (but you won’t take advantage of after-hours trading on Trove); however, it plummeted even more by more than 33% at the start of the trading day on Friday. Sigh, that’s not the worst part though, when compared to the same period last year, Snap’s shares are down
by about 77%.

My Chwest:
The social media giant posted a Q2 revenue of $1.11 billion, a tad bit shy of analyst’s $1.14 billion estimate.
The social media giant posted a Q2 revenue of $1.11 billion, a tad bit shy of analyst’s $1.14 billion estimate. I mean, when you think about… Could it be worse? 🤷🏾‍♂️ The company had a myriad of reasons it held responsible for its poor performance, including Apple’s App Tracking Transparency, which hindered the company’s ability to track users and target them with specific adverts. The company also sighted the general decline in the digital advertising industry and increased competition for advertising dollars as a possible cause for its lacklustre quarterly performance.

Cry me a river…

Sad Talk Show GIF by iOne Digital

But there’s a ray of sunshine, nonetheless. Despite the poor earnings report, Snap still reported some good news. The company beat expectations for monthly active users. While analysts had estimated Snapchat’s MAU would be around 342.3 million, they actually reported MAUs were at 347 million.

Simple Lesson: Take your wins wherever we can get them.

The company expressed in its letter to shareholders that they are working to solve the problems currently plaguing the organization.

Like that Jay Z song says, ‘Hoping for the best…’

AN AMAZON x RIVIAN PARTNERSHIPWhen tech giants come together, it could mean good news (especially for investors). Amazon has announced that they have begun to deploy some of the electric delivery vehicles they created in collaboration with Rivian Automotive. Rivian Automotive is an American electric vehicle automaker and automotive technology company. I know it’s more sustainable “in the long run” to have electric vehicles but with the way fuel/gas prices have been rising, everyone will have to choose sustainability whether they like it or not, because these pumps aren’t for the faint of hearts
Filling Up Music Video GIF by Dylan Scott
In September of 2019, Amazon’s founder Jeff Bezos had initially announced that Amazon had acquired 100,000 electric vehicles from Rivian as part of their plan to achieve zero carbon emissions across their operations by 2040. In October of 2020, Amazon unveiled a prototype of the vehicle… and in 2021, the vehicles were tested in several cities but drivers complained about how quickly the batteries of their vehicles depleted during the initial rollout. Imagine how annoying it is to have to wait much longer for your amazon package because you have to stop mid-route to charge your van.
Nervous Big Brother GIF by Big Brother Australia

By the end of this year, Amazon said it anticipates having “thousands” of Rivian delivery vehicles in more than 100 cities, marking the first step towards its goal of having 100,000 electric delivery vehicles on American roads by 2030. Amazon says it will use the electric vehicles to make deliveries in a handful of cities, including Baltimore, Chicago, Dallas, Kansas City, Nashville, Tennessee, Phoenix, San Diego, Seattle and St. Louis, among others. Rivian’s CEO said the vehicle deployment is a landmark step in efforts to decarbonize the last mile of delivery…We love to see it!

KEEPING OUR JOB IN THIS ECONOMYBig Tech' isn't one big monopoly – it's 5 companies all in different  businessesWith all the turmoil happening in the global economy — inflation, the pandemic resurfacing, the Ukrainian war, a lot of tech companies are having a hugeee rethink on their hiring needs. Top companies like Microsoft, Amazon, Twitter, Google, Lyft, and Goldman Sachs who play a vital role in the American stock market and economy have decided to freeze their hiring processes. Basically, Silicon Valley and Wall Street aren’t smiling.

Frankly, I am not entirely shocked by Amazon, Twitter, Google, etc. freezing hiring processes. However, I am stupefied by Microsoft’s laying off staff and freezing their hiring process, frankly because the last time they did something like this was a little over five years ago! Apparently, the predominant reason is because of some sort of strategic realignment…

In any case, the stock market had mixed reactions to all of these (sigh) as these company stocks like Amazon, Microsoft, Google, Lyft, and Goldman Sachs dipped by up to 5%. On the flipside, Twitter stocks gained about 0.81%…If you still have a job that you like, now is a good time to do everything you can to be extraordinary at it.

..Let’s sprinkle a little bit of Nigerian news in here for ya! NNPC NOW PRIVATIZED 🌚Buhari unveils NNPC Limited, says transformation will strengthen oil sector  - Nigerian News. Latest Nigeria News. Your online Nigerian Newspaper.The Nigerian National Petroleum Company (NNPC) has transitioned from being a government-run entity to a commercial/privatized oil company. Are you shocked? Yea, so am I. The justification is that “we are transforming our petroleum industry, to strengthen its capacity and market relevance for the present and future global energy priorities”, according to Muhammadu Buhari, Nigeria’s President. Although the government will still largely be the shareholders of this newly formed private company, the new company will be very profit driven and commercial-focused, independent of the government. Maddeauxxxx

It is no longer news that for many decades, NNPC has been poised with severe inefficiencies, questionable leadership and governance, and more importantly, knee-deep losses. In light of these, shouldn’t we be celebrating at this development? but I mean, we’d have to see how things really shape out following this privatization.NNPC’s shares and assets, including oil blocs and refineries, are now held by the ministries of petroleum and finance.NNPC plans to list on the exchange by mid-next year (2023)… will you be buying??

Tweet at me: @trovefinance
…What do you think about this development? Are you holding your breath for NNPC to drop on the exchange? Do you think privatised NNPC will be better run and profit-bagging than its state-managed version?

Side Eye Fuming GIF by Dreezy

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Your dearest and favourite Stocks Market Gist Partner,

Tomi, From Trove 🖤
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