Snap (NYSE:SNAP) has made a sudden leg down, -5.5%, after Instagram (FB +1.5%) announces worldwide availability of its “new camera-first messaging app.”
Targeted at a “smaller circle of friends” than Instagram’s other visual sharing efforts, the new Threads is a stand-alone app aimed at privacy and speed.
“You can share photos, videos, messages, Stories and more with your Instagram close friends list,” Facebook says of the new app. “You are in control of who can reach you on Threads, and you can customize the experience around the people who matter most.”
