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In this screenshot, Snap Inc. CEO Evan Spiegel takes the stage during the virtual Snap Partner Summit 2021 on May 20, 2021 in Los Angeles. Snap Partner Summit 2021 – Snap Inc | Getty Images Snap shares plunged more than 25% on Monday after CEO Evan Spiegel warned in a memo to employees that the … Read more
Tech companies haven’t seen a sell-off like this since 2001 and the bursting of the dotcom bubble. The Nasdaq was down 3.8% this week, falling for a seventh straight week. It’s the longest losing streak for the Tech Index in 21 years. Inflation, rising interest rates, war in Ukraine and pandemic shutdowns in China add … Read more
Elon Musk, during an event at SpaceX headquarters in Hawthorne, California, United States, Thursday, October 10, 2019. Bloomberg/Getty Amid his deal to acquire Twitter, Elon Musk asked the United States Securities and Exchange Commission to review the social network’s user numbers. Musk, the CEO of Tesla and SpaceX, wrote in an informal Twitter poll on … Read more
Former President Donald Trump speaks to supporters during a rally at I-80 Speedway May 1, 2022 in Greenwood, Nebraska. Scott Olson | Getty Images Former President Donald Trump will partially limit himself on social media, even if Elon Musk lifts Trump’s ban on Twitter, according to an SEC filing from Digital World Acquisition Corp. Trump … Read more
Parag Agrawal named CEO of Twitter on November 29, 2021. Courtesy: Twitter Parag Agrawal, CEO of Twitter said friday that he still expects the sale to Elon Musk to materialize, but he continues to run the company in case it doesn’t. “While I expect the deal to be done, we need to be prepared for … Read more
Elon Musk announced Friday that his Twitter deal is on hold until he receives more information about the number of fake accounts on the social media platform. In a follow-up tweet about two hours later, Musk added that he was “still committed to the acquisition.” Twitter’s stock fell 18% in premarket trading after the initial … Read more
Monitors show Coinbase signage during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S. on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images Coinbase released first-quarter results that missed analysts’ earnings estimates after Tuesday’s bell. Shares fell more than 15% after hours trading, building on a 12.6% … Read more
Musk’s plan to buy Twitter has policymakers around the world worried. Joe Skipper | Reuters Elon Musk said on Tuesday he would overturn former President Donald Trump’s Twitter ban if his acquisition goes through. “Permanent bans should be extremely rare and really reserved for accounts that are bots, or scams, spam accounts… I think it … Read more
Uber posted a loss of $5.9 billion in the first quarter of 2022. Philippe Pacheco | AFP via Getty Images Uber will cut spending and focus on becoming a leaner company to weather a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email obtained by CNBC. “After the earnings, I spent … Read more
Traders work during the New York Stock Exchange (NYSE) opening bell on March 19, 2020 on Wall Street in New York City. – US stocks open mixed, Dow -0.4%, Nasdaq +0.1% (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images) JOHANNES EISELE | AFP | Getty Images The Nasdaq Composite fell … Read more