We recently told you about the dizzying stock market decline of Facebook, Google, Amazon and other Netflix, they are not the only ones to be affected in a downward fever that calls into question the fundamentals of certain social networks.
Snap, Snap chat
To snap in Anglo-American, it is to seek to bite. The Snapchat messaging system founded in 2011 allows you to send photos and videos which in theory disappear a few seconds later, a perfect illustration of an ephemeral world. The application has since evolved and it is possible to save the photos by a screenshot. It is especially very popular among teenagers, with a certain number of common excesses at this age: phenomena of harassment, encouragement to use drugs, etc.
Snap was bitten hard on May 23, 2022 where the stock suffered a 43% drop in market value in a single session. And a drop that even reaches 72% over one year. While the Nasdaq technology index has fallen by more than 40% since the start of the year, giving cold sweats to investment funds like Blackrock losing 26% over one year.
See as well : Denis Robert, from Media to Blast via BlackRock
End of confinements, end of the bubble?
I am confined, I use social networks, I meet remotely (Zoom), I watch series or films on dedicated platforms (Netflix, Disney). I am déconfiné, I see my friends, I go to a restaurant or to the countryside, I visit an exhibition etc. The party seems over for a while for stratospheric stock market values linked to the internet and entertainment. End of the party (temporary?) for connected exercise bikes (good riddance), for certain remote purchases. Back to real life? In a fragile and increasingly artificial world, nothing is certain.