Yahoo Finance Snap Introduces Shared Stories Feature For Snapchatters
Snap SNAP recently introduced its Shared Stories feature for Snapchat users.
Shared Stories, which is a new iteration of Custom Stories, is anticipated to be a new way for Snapchatters to build a community around the content they love.
With the new and improved Shared Stories feature, Snapchatters who have been added to the group can further add more people.
Shared Stories is safe by design, like all other Snapchat features. Snaps sent to Shared Story have a maximum validity of 24 hours and have no option for chat, keeping all conversations within the exclusive group.
The content on Shared Story is moderated using a combination of automatic language detection and community review tools, thus keeping the stories safe.
Snapchatters are also notified if they are in a Share Story group with someone they have blocked.
Snap Inc. Price and Consensus
Snap Inc. price-consensus-chart | Snap Inc. Quote
Introducing Features to Garner User Engagement
Snap has been gaining momentum and user engagement among the youth, which has been helping it expand its subscriber base.
The company is focused on introducing several new features to retain existing users and attract new ones to its platform.
Earlier this year, Snap rolled out a feature that enabled users to share Alphabet GOOGL-owned, YouTube’s video links via the Snapchat Camera platform.
With the integration of this feature, Snapchatters can directly access the video within the Alphabet’s YouTube app or any other mobile browser, with just a tap on the YouTube stickers available on the Snapchat app.
Snap has been developing its content, gaming and augmented reality platforms to enhance user experience. With its AR technology solutions, Snap has been targeting global content creators, helping them revolutionize how digital content is created and consumed.
To enhance its AR products and services, the company has also invested massively in acquiring startups specializing in AR, such as NextMind and WaveOptics.
To increase the visibility of its AR products, the company entered into a multi-year partnership with Live Nation LYV to use AR experiences, which have been created with artists and festivals.
Per the Snap-Live Nation deal, Snap is the exclusive AR partner for 16 of Live Nation’s festivals.
As part of the deal, Snap recently launched four new AR lenses — Night Owl Lens, Daisy Lens, AR Compass and Friend FindAR Lens — at Electric Daisy Carnival, Las Vegas.
The company recently stated that it would likely witness a decline in sales and profit in the near term due to the ongoing economic turmoil. Apart from focusing on ways to reduce costs, the company will also work toward increasing user engagement and expanding its advertiser base.
Zacks Rank And Stock To Consider
Currently, Snap has a Zacks Rank #3 (Hold)
Snap’s shares are down 69.9% year to date compared with the Zacks Internet - Software industry’s fall of 51.1% and the Computer and Technology sector’s decline of 31%.
A better-ranked stock in the Zacks Computer & Technology sector is Ceridian HCM CDAY, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
CDAY has plunged 47.6% year to date.
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