He expects Snap to
lose $1.5 billion next year as it invests to grow the user base.
DECELERATING TRENDS: On Thursday, Evercore ISI analyst Anthony DiClemente lowered his price target for Snap to
$7 from $9 given decelerating trends, management turnover, and competitive threats.
USDA also provided funding to incentivize participants in SNAP to
purchase more healthy fruits and vegetables through the Food Insecurity Nutrition Incentive Program, increased farmers market participation in SNAP to
improve access to fresh and nutritious food, and proposed updated SNAP retailer standards to include different varieties of healthy qualifying foods.
Michael Pachter, managing director of equity research at Wedbush Securities, expressed some optimism about Snap to
The analyst noted that since October 2017, Snap's stock has lost over half its value but he does not believe "the pain is over." Meanwhile, his peer at Citi lowered his price target on Snap to
$8, saying he now sees less likelihood of a near-term takeover due to the company's recent operational challenges.
Agriculture Secretary Tom Vilsack today announced that 10 states have been selected to take part in SNAP to
Skills, a first-of-its-kind, peer-to-peer effort to help state agencies design improved employment and training programs for adults participating in the Supplemental Nutrition Assistance Program (SNAP) in order to help them find employment and ultimately move off the SNAP program.
All he had to do was make a low, easy snap to
the right or left, whichever the play called for.