GUMMY ALERT
Pretty sure today will be a great day to get long SNAP in the pre-market here.
It's at $53.25
Remember this?
When I said these kids are bored out of their minds at home....
I'm looking and looking... I gotta say my favorite stock for '21 is going to be SNAP, but I really think its going to drop to around $44ish before earnings. I feel pretty confident after earnings it will be head for $75 though.
There is NO WAY with all these school shutdowns etc... that every kid in the world is not using this thing. Their new user #'s.... I have a feeling are going to blow away even the most bullish of analysts' estimates.
Ad dollars will be off the charts.
It's the new Facebook Stoney.
As it stands right now, even if we go into a bear market, this is probably my favorite stock for 2021.
That said, I still see the low to mid $40's near term. But maybe not.
Well, not apples to apples... but pretty close. Check out what Tik-Tok reported from last night.
Revenue friggin doubled!
Profit went from 4B to 7B.
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TikTok’s Owner Doubles Sales to $35 Billion Despite U.S. Ban
January 27, 2021, 2:32 AM EST
ByteDance Ltd.’s revenue more than doubled to about $35 billion last year, defying heightened global competition and Trump’s attempt to ban its signature video service TikTok in the U.S.
The Chinese company managed to grow operating profit to roughly $7 billion in 2020 from less than $4 billion the prior year, a person familiar with the matter said. That’s in a year when former U.S. president Donald Trump sought to ban TikTok and force its sale to American investors led by Oracle Corp. With Joe Biden in office, the company is moving closer toward listing part of its social media empire in Hong Kong. The Information first reported on ByteDance’s 2020 financials.
ByteDance’s phenomenal growth stems from the global success of teen phenom TikTok and its Chinese twin Douyin, which helped pioneer a new form of social video and undercut rivals from Facebook Inc. to Tencent Holdings Ltd. Last valued at about $180 billion, the company is said to be exploring an initial public offering for some of its businesses in Hong Kong, including Douyin. A ByteDance spokesperson declined to comment.
$SNAP IS A PRE-MARKET GUMMY BUY!!!!
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But wait, there's more.
This just came out too.
Snap acquires Ariel AI, a computer vision startup set up by ex-Facebook and Google scientists
Snap, the parent company of social media app Snapchat, has acquired a British artificial intelligence start-up called Ariel AI which focuses on augmented reality.
Ariel AI was founded in London in 2018 by a group of former Google and Facebook research scientists including Chief Executive Iasonas Kokkinos and Chief Technology Officer George Papandreou.
LONDON — Snap, the parent company of social media app Snapchat, has acquired a British artificial intelligence start-up called Ariel AI which focuses on augmented reality.
Ariel AI was founded in London in 2018 by a group of former Google and Facebook research scientists including Chief Executive Iasonas Kokkinos and Chief Technology Officer George Papandreou. The news was first reported by Business Insider and confirmed to CNBC by Snap on Tuesday.
Ariel AI has been focusing on an area of AI known as computer vision, which is used to build augmented reality features.
The start-up's website says that its software allows "3D human perception" in real time and that it can be used to power "the next generation of consumer experiences on mobile devices."
A YouTube demo video shows how the company's technology can render a 3D model of a person in real time. The model can then be used for virtual clothes try-ons and immersive gaming.
Snap said their work will focus on understanding geometry, semantics and more of what is in the field of view of the camera.
Nathan Benaich, an AI investor at Air Street Capital and co-author of the annual State of AI report, told CNBC that he wasn't surprised Snap bought Ariel AI.
"That was my bet actually," he said, adding that Facebook, Samsung, and Pokemon Go maker Niantic were other contenders for him.
Benaich said he thinks Snap bought Ariel because it is "focused on on-device 3D mesh building in a snappy and battery efficient way with a use case in AR."
He also said Snap probably also bought the company for the talent that it has across its workforce.
Social media firms like TikTok and Facebook are battling it out to develop the most sophisticated AR experiences for their users. These range from dog ears that people can superimpose on top of their heads to other special effects.
U.S. tech firms have acquired several British AI start-ups in recent years. The best-known example is Google buying DeepMind for a reported $600 million in 2014. Elsewhere, Twitter bought Magic Pony Technology for $150 million, while Facebook bought Bloomsbury AI in a deal worth up to $30 million.
Snap also bought a start-up called Voisey last November, which has developed an app that allows people to overlay their own voice on short music tracks.
PRE-MARKET GUMMY BUY!!!!
