News Sizzle/Fizzle: Snap Sizzles, Bitcoin Fizzles

Sizzle/Fizzle: Snap Sizzles, Bitcoin Fizzles

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Sizzle

Snap: Shares snap upward, up by 21 percent, in the wake of earnings that soundly beat projections. Daily average user count may have stanched losses, as the tally was flat, where observers had expected shrinkage.

PayPal: Credit extended to consumers crosses the $50 billion mark, cumulatively, since offerings were launched roughly a decade ago. In 2018 alone, the company said, total payments volume was $10 billion, with $2 billion in November and December.

FLEETCOR: Corporate payment growth remains a hallmark of the latest quarter, with revenues up 24 percent year over year helping top line growth of 11 percent surpass expectations to $679 million. The company said in commentary that it added 120,000 new corporate customers to its rosters in 2018.

 

Fizzle

Crypto: Trust takes a walloping as cryptocurrency exchange QuadrigaCX says that it cannot gain access to $190 million in digital holdings after its CEO dies — and he was the only holder of the passwords to the “cold storage” for those cryptocurrencies.

Brick and mortar: Takes another hit as Charlotte Russe files for bankruptcy protection, and will shutter almost 20 percent of its 500 locations across the country. The closings come amid the headlines dominated by Sears, with back and forth volleying in court over the storied retailer’s fate. Charlotte Russe is in the midst of seeking a buyer, according to reports.

Bitcoin: The marquee name in cryptos now tumbles to another low, flirting with $3,300. JPMorgan Chase has estimated that it costs roughly $4,060 to mint a single bitcoin — which means that the “currency of the future” is worth less than the proverbial bits and bytes it’s printed on.



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