Align, the creator of the metal braces alternative Invisalign, is proving that paid and influencer advertising is kind of a big deal. For the last few years, $ALGN has doubled down on social media as a meaningful medium for advertising. In that same period of time, there has been a 25.6% year-over-year increase in teens using Invisalign. The stock skyrocketed nearly 35% today on news of the earnings.
The Gap is trimming fat. The retail giant and owner of Old Navy, Athleta, Banana Republic and its namesake retail store is planning to close stores and focus on e-commerce. The news has sent shares of $GPS 13% higher today. The shift in physical retail to online retail accelerated this year due to COVID-19 — something we have covered in a number of other stocks.
Over the last few years, Snapchat’s user growth has fallen off, even as ad revenues have started to make the company float. This is mainly due to the lack of presence outside of the U.S., TikTok and Facebook domination and the abysmal Android version of the app. However, for the first time in years, Snapchat managed to start growing again. The social media app posted their highest daily active user growth rate since 2017 and beat analyst expectations for Q3. Shares in $SNAP are up 37% since the earnings call.