IRS CEO Frank Bisignano pushed back Monday on reports that the agency is short-staffed, telling FOX Business there is “no staffing shortage” and pointing to strong tax season performance as evidence.

“That’s because people go, ‘If you had 100,000, and now you have 72,000, you must be short-staffed,’” Bisignano said on “Varney & Co.,” referencing a drop-off in the agency’s workforce.

“But we’ve run orgs our whole life to drive productivity and quality, and it’s through technology,” he added.

TRUMP TOUTS POTENTIAL 20% TAX REFUNDS FROM ‘BIG BEAUTIFUL BILL

Frank Bisignano speaks before President Donald Trump signs a presidential proclamation honoring the 90th anniversary of the Social Security Act in the Oval Office of the White House on Aug. 14, 2025. (Mandel Ngan/AFP via Getty Images)

Bisignano’s remarks challenged headlines suggesting the IRS is struggling to keep up with staffing cuts, including a recent Politico report raising concerns as the agency works to implement new Republican-led tax breaks.

He suggested those concerns overlook how the agency has shifted its focus beyond raw headcount and toward productivity and efficiency by using “every tool imaginable” to maintain high-performance standards.

SOME AMERICANS WILL LOSE POPULAR 401(K) TAX BREAK IN MAJOR RETIREMENT RULE CHANGE STARTING 2026

A sign for the Internal Revenue Service (IRS) is seen outside its building on Feb. 13, 2025, in Washington, D.C. (Kayla Bartkowski/Getty Images)

“We started when I came on in October, and we changed the way we think about the call centers. We changed our metrics on how we were going to deliver,” he said.

“We’re delivering refunds faster than ever and larger than ever while doing OBBB (One Big Beautiful Bill) tech changes to implement it.”

He also emphasized the agency’s use of artificial intelligence to bolster compliance, warning that taxpayers attempting to skirt the rules will be caught.

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“We’re going to find them. That’s the job,” he said.

“You think about places to use AI and technology, it’s really around that, increasing the compliance. So if you say, what are we doing? We’re driving customer service to the best season we’ve ever had, right? We’re increasing collections, revenue’s up, and we’re protecting privacy, and that’s a mantra.“

The deadline to file 2025 tax returns is looming on Wednesday, April 15, and while tens of millions of taxpayers have filed their returns, there will likely be millions filing extensions to give themselves until the fall to submit their returns.

Taxpayers who need more time to file their 2025 tax return can request an extension before the April 15 deadline by filling out an online form. 

Extensions give taxpayers until Oct. 15 to file their 2025 tax returns while avoiding a penalty for filing late, which is 5% of your unpaid taxes for each month that a return is late, up to 25% of the total unpaid, according to the IRS. Additional penalties can be levied for failing to pay.

The IRS emphasizes that tax extensions are only for filing a tax return and don’t provide extra time to pay, so if taxes are owed, then a payment is required at the time the extension is requested to avoid incurring the penalty.

BEWARE OF THESE TAX SCAMS AS THE FILING DEADLINE APPROACHES, CONGRESS WARNS

Taxpayers who are requesting an extension to file their 2025 tax returns must pay what they owe at the time of the extension, or should otherwise request a payment plan. (Michael Bocchieri/Getty Images)

If a taxpayer is owed a refund, there is no penalty for filing late, although they must file their return within three years to receive their refund.

Taxpayers who have a balance due and can’t pay the full amount by April 15 should pay what they can and apply for a payment plan – also known as an installment plan or online payment agreement. 

The IRS notes that most applicants are immediately notified of their approval or denial without having to call or write to the IRS.

AVERAGE TAX REFUND UP NEARLY 11% FROM A YEAR AGO, IRS DATA SHOWS

The IRS may automatically extend the deadlines for taxpayers who reside in disaster-affected areas. (Jordan Vonderhaar/Bloomberg via Getty Images)

There are three ways a taxpayer can request an extension for filing their tax return.

Taxpayers who go to the IRS website to pay taxes they owe using an online option may click on “extension” as the reason for the payment. That will give the taxpayer a confirmation number associated with their extension that can be kept for their records, with no need to file additional forms.

All individual tax filers who use IRS Free File can use the program to request an automatic extension, regardless of their income and at no cost to them. However, there are income requirements and limitations for using IRS Free File to file taxes.

IRS REFUND TRACKER EXPLAINED: WHAT YOU NEED TO KNOW BEFORE THIS YEAR’S TAX FILING DEADLINE

Taxpayers may also submit Form 4868, which is an application for automatically extending the amount of time to file an individual income tax return. The form can be filed by mail, online with an IRS e-filing partner, or through a tax professional. 

Those submitting the extension form must estimate how much tax is owed for the year on the extension form and subtract taxes already paid for the filing year and the balance owed.

Taxpayers have several options for requesting an extension. (J. David Ake/Getty Images)

There may be additional time to file available to taxpayers who are serving in a combat zone or qualified hazardous duty areas, living outside the U.S., or are affected by certain disaster situations.

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The IRS commonly postpones filing deadlines for taxpayers who reside within specific disaster areas, with relief for both filing and payment. 

While the IRS automatically identifies affected taxpayers who live in those areas, those who live or have a business outside the affected area and were affected by the disaster may contact the IRS to request relief.

A wave of aggressive tax proposals is hitting voters this election cycle, as states push sharply different plans that could reshape how governments raise revenue. From efforts targeting high-net-worth individuals to proposals aimed at eliminating major taxes altogether, the growing divide is forcing voters to weigh competing visions of fiscal policy.

JOSH ALTMAN SOUNDS ALARM ON CALIFORNIA WEALTH TAX, SAYS WORKERS WOULD PAY THE PRICE

FOX Business’ Gerri Willis joined Stuart Varney on “Varney & Co.” to report on the surge in ballot initiatives and legislative proposals spanning both blue and red states, highlighting how lawmakers are experimenting with new approaches to taxation amid mounting budget pressures and political demands.

Those proposals are already raising concerns about unintended consequences, particularly when it comes to retaining wealth and investment within state borders.

BILLIONAIRES AND BUSINESSES FUEL GROWING EXODUS FROM BLUE STATES

“They do have other places to go. It’s ultimately perhaps counterproductive if you want to fund certain programs at certain levels,” Tax Foundation senior fellow Jared Walczak said.

Voters make their selections at booths inside an early voting site in the United States. (Melissa Sue Gerrits/Getty Images)

The debate comes as some high-tax states are already grappling with out-migration, with IRS data showing residents and businesses moving from states like California, New York and Illinois to states such as Florida and Texas in recent years — a trend policymakers are increasingly factoring into tax decisions.

At the same time, backlash is building in other parts of the country, where voters are pushing to reduce or eliminate property and income taxes, setting up a broader national debate over how far states should go in reshaping their tax systems.

PROGRESSIVE LAWMAKERS BERNIE SANDERS, RO KHANNA UNVEIL $4.4T WEALTH TAX TARGETING BILLIONAIRES

The divide is playing out against a broader national shift in tax policy. According to the Tax Foundation, 23 states have cut their top marginal individual income tax rates since 2021, underscoring a growing push to improve competitiveness and attract residents. Meanwhile, rising home values have driven property tax bills higher in many regions, fueling calls for relief and adding pressure on lawmakers to find alternative revenue sources.

Cutting or eliminating major taxes presents a challenge for lawmakers, who must determine how to replace lost revenue while continuing to fund core services.

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NEW YORK — Shares of SoFi Technologies Inc. climbed Monday as the digital banking disruptor traded at $16.58, up 36 cents or 2.25%, reflecting renewed investor interest ahead of its first-quarter 2026 earnings and amid fresh moves into enterprise banking and crypto services.

The San Francisco-based company, which operates SoFi Bank and a comprehensive financial app, has captured attention with rapid member growth and a push beyond retail lending into fee-based businesses, technology platforms and now business-oriented fiat-crypto solutions. Yet the stock remains well off its 52-week high near $32.73, down roughly 40% year-to-date after peaking early in 2026, as broader fintech sector pressures and a recent short seller report weighed on sentiment.

SoFi is scheduled to report Q1 2026 results on April 29, with management guiding for adjusted net revenue of about $1.04 billion, adjusted EBITDA near $300 million, adjusted net income of $160 million and adjusted EPS of 12 cents. That follows a strong Q4 2025 in which the company posted its first $1 billion revenue quarter, up 37% adjusted, with GAAP net income of $174 million — its ninth consecutive profitable quarter.

Analysts maintain a generally constructive view despite recent price target cuts. The consensus 12-month price target sits around $24 to $25, implying significant upside from current levels, with some firms seeing potential for 40% or more gains if execution continues. Wells Fargo lowered its target to $18 from $19 while keeping an Equal Weight rating, and Keefe Bruyette & Woods cut to $17 from $20. Still, longer-term optimism persists around SoFi’s path to scaled profitability.

Central to SoFi’s evolution is its transformation from a student loan refinancing specialist into a full-service digital bank. As of late 2025, the company reported 13.7 million members, up 35% year-over-year, and 20.2 million products, up 37%. Deposits reached $37.5 billion after a $4.6 billion increase in the fourth quarter, providing lower-cost funding and supporting net interest margins.

Fee-based revenue has become a key growth driver, rising 53% to a record $443 million in Q4. The Galileo technology platform, which powers financial services for other institutions and supports 128 million global accounts, continues to expand SoFi’s reach beyond its own customer base.

On April 2, SoFi launched Big Business Banking, a unified platform allowing enterprises to manage fiat deposits, crypto assets and the company’s proprietary SoFiUSD stablecoin through a single FDIC-insured bank with direct Federal Reserve access and real-time 24/7 API payments. The move targets corporate clients seeking integrated solutions in traditional and digital assets, positioning SoFi as a bridge in the evolving fintech-crypto landscape.

The company has also expanded its Loan Platform Business. In late March, SoFi announced over $3.6 billion in new personal loan delivery commitments across three partnerships, including a leading global bank (over $1 billion expected), a financial services and insurance group ($600 million over 12 months) and a top-five global private asset manager (up to $2 billion over two years). This builds on more than $10 billion in commitments secured in 2025, highlighting demand for SoFi-originated loans while generating fee income.

Crypto initiatives add another layer. SoFi partnered with Mastercard to enable settlement using its fully reserved SoFiUSD stablecoin across Mastercard’s global payments network, including for SoFi Bank. The stablecoin integration aims to facilitate faster, more efficient transactions and opens doors for broader blockchain-based services.

Despite these advancements, challenges remain. A short seller report earlier in April raised questions about loan performance metrics, net charge-off rates and accounting practices related to the loan book. SoFi has pushed back against the claims, emphasizing its conservative underwriting and transparent reporting. Personal loans remain a significant business, with $27.5 billion originated in 2025, but credit quality and interest rate sensitivity continue to draw scrutiny.

Market conditions have also played a role in the stock’s volatility. Fintech shares faced headwinds in early 2026 from persistent inflation concerns and shifting expectations for Federal Reserve rate cuts. SoFi, which benefits from a healthy net interest margin in higher-rate environments but also from increased loan demand if rates fall, sits at the intersection of these dynamics.

CEO Anthony Noto and the leadership team have stressed operational leverage. For full-year 2026, SoFi guides for at least 30% member growth, adjusted net revenue of approximately $4.655 billion (about 30% growth), adjusted EBITDA of $1.6 billion (roughly 34% margin) and adjusted net income of $825 million (18% margin), equating to about 60 cents adjusted EPS. Medium-term targets point to 38-42% EPS compound annual growth through 2028.

Wall Street has taken note of the improving margin profile and diversified revenue mix. Financial services and technology segments now contribute meaningfully, reducing reliance on lending alone. Some observers describe SoFi as the “AWS of fintech” for its Galileo platform, which helps other firms build and manage banking solutions.

Institutional interest persists. Recent filings show new positions or increases by various funds, though overall ownership stands around 38%. Insider buying, including notable purchases by Noto in prior periods, has occasionally signaled confidence during dips.

SoFi’s app-centric model — offering borrowing, saving, spending, investing, protecting and crypto capabilities in one place — continues to drive product intensity. Members increasingly use multiple services, boosting lifetime value. The company also runs financial education initiatives, such as the Future Wealth Summit for college students, to build long-term engagement.

Looking ahead, potential catalysts include further crypto product rollouts, such as secured lending against digital assets, deeper enterprise adoption of Big Business Banking, and any benefits from a more accommodative rate environment. Inclusion in major indices or continued deposit growth could also support the narrative.

Risks center on macroeconomic conditions, regulatory developments for banking and crypto, competition from traditional banks and big tech, and execution on credit underwriting as the loan book scales. The short report highlighted concerns that actual net charge-offs could be higher than reported, though SoFi maintains its figures are accurate.

As of mid-April 2026, SoFi trades at a forward earnings multiple that some analysts view as reasonable — or even attractive — given the projected growth trajectory, especially compared with distressed fintech peers. Others argue the valuation still embeds high expectations.

The upcoming Q1 print on April 29 will provide the next major data point. Investors will watch member and product adds, deposit trends, loan origination volumes, fee revenue momentum and any updates to full-year guidance.

SoFi’s story reflects broader fintech maturation: moving from high-growth, loss-making startups to profitable, scaled players with banking charters and diversified offerings. Whether the current share price represents a buying opportunity or continued caution depends on views of credit quality, competitive positioning and the pace of enterprise and crypto expansion.

For now, with shares rebounding modestly to the $16 level and earnings on the horizon, SoFi remains a closely watched name in the digital finance space. The company’s ability to deliver on its ambitious 2026 targets while navigating a skeptical market will determine if the recent pullback proves to be a temporary setback or a longer-term re-rating.

NEW YORK — Shares of Bitmine Immersion Technologies Inc. rose Monday to $21.57, up 28 cents or 1.32%, as the Ethereum-heavy treasury company continued to draw investor attention following its recent uplisting to the New York Stock Exchange and aggressive accumulation of digital assets.

The Las Vegas-based firm, which operates under the ticker BMNR, has transformed from a Bitcoin mining operation using advanced immersion cooling technology into what it calls the world’s leading Ethereum treasury company. As of its latest disclosure on April 13, Bitmine reported total crypto, cash and “moonshot” holdings of $11.8 billion, including 4.875 million ETH tokens — roughly 4% of Ethereum’s total supply.

The company’s stock has experienced extreme volatility in recent weeks, swinging on news of its massive ETH purchases, the NYSE move and an expanded $4 billion share repurchase program. Shares climbed as much as 13% on April 9 following the uplisting announcement but have pulled back from earlier 2026 highs near $161 amid broader crypto market fluctuations and concerns over valuation.

Bitmine’s strategy centers on what it terms “the alchemy of 5%,” an ambitious goal of accumulating up to 5% of Ethereum’s circulating supply as its primary treasury reserve asset. Executive Chairman Tom Lee, a prominent crypto commentator, has been vocal in defending the approach, framing market dips as buying opportunities and predicting strong long-term recovery for ETH.

The company has repeatedly updated investors on its growing ETH stack. Recent filings showed holdings climbing from 4.474 million tokens in early March to the current 4.875 million, acquired through disciplined purchases funded in part by its Bitcoin mining and hosting operations. At current Ethereum prices around $2,100-$2,300 per token, the treasury alone represents a multi-billion-dollar position that dwarfs many traditional corporate balance sheets.

On April 9, Bitmine officially uplisted from the NYSE American to the main New York Stock Exchange board, retaining the BMNR ticker. The move was accompanied by an expansion of its share repurchase authorization from $1 billion to $4 billion, one of the largest buyback programs announced by a crypto-related public company this year. Management signaled it would use the authority opportunistically if shares trade below intrinsic value tied to its ETH holdings.

Analysts have taken notice. B. Riley raised its price target to $33 from $30, while the consensus target hovers around $34.50, implying more than 60% upside from current levels. Some observers describe Bitmine as trading at a discount to its net asset value when factoring in the Ethereum treasury, cash reserves exceeding $700 million and smaller positions in Bitcoin and “moonshot” investments such as stakes in Beast Industries and Eightco Holdings.

Bitmine’s origins lie in immersion-cooled Bitcoin mining. The company deploys specialized hardware submerged in non-conductive dielectric fluid to improve energy efficiency, reduce heat and extend equipment life compared with traditional air-cooled setups. While it is winding down proprietary self-mining exposure and deferring new site builds, it continues to offer hosting, equipment sales and advisory services in the Bitcoin ecosystem.

A key growth initiative is the launch of MAVAN — the Made-in-America Validator Network — its proprietary Ethereum staking solution. The company has already staked more than 3 million ETH and aims to generate additional yield through native protocol participation and decentralized finance mechanisms. MAVAN is expected to contribute to operating revenue once fully operational, though accounting treatment of staking rewards remains a point of investor focus ahead of upcoming quarterly reports.

Financial results reflect the company’s pivot. For fiscal year 2025 ending August 31, Bitmine reported revenue of approximately $6.1 million, largely from mining and related services, with net income influenced heavily by unrealized gains or losses on its digital asset holdings. Recent quarters have shown significant swings in earnings per share due to crypto price volatility. The company maintains no net debt and emphasizes a fortress balance sheet to support its treasury strategy.

Investor sentiment has been mixed. Some praise the transparent, frequent disclosures on holdings as a model for public crypto companies, while critics point to potential overvaluation risks, dilution from past capital raises and the concentrated bet on Ethereum. A short-term pullback earlier in April followed questions about whether the $11.4 billion treasury figure adequately accounted for cost basis and market conditions.

Bitmine’s leadership, including CEO Chi Tsang and CFO/COO Young Kim, has highlighted institutional backing and the appeal to investors seeking indirect exposure to Ethereum without directly holding the volatile asset. The strategy positions the company as a hybrid play: infrastructure roots in efficient mining combined with a bold digital asset treasury.

Broader market context has played a role in the stock’s movement. Ethereum prices have faced pressure from macroeconomic factors, including interest rate expectations and regulatory developments, yet Bitmine has continued accumulating during dips. The company reported its largest single Ethereum purchase in months in early April, adding tens of thousands of tokens.

As a newly minted NYSE-listed name, Bitmine gains increased visibility, potential for higher trading volumes and eligibility for inclusion in broader indices over time. The uplisting also enhances credibility with traditional investors exploring crypto exposure through public equities.

Risks remain substantial. The value of Bitmine’s treasury is directly tied to Ethereum’s price, which can experience sharp swings. Regulatory changes affecting staking, custody or digital asset classification could impact operations. Competition in both mining and treasury strategies is intense, with larger players in the space also building crypto reserves.

Looking ahead, investors will watch for the next quarterly update and any further details on MAVAN’s revenue contribution. Full-year fiscal 2026 guidance has not been detailed extensively, but management continues to prioritize ETH accumulation per share and ecosystem participation.

Bitmine’s immersion cooling technology, originally developed for mining efficiency, has drawn parallel interest for potential applications in high-performance computing and AI data centers, where heat management is critical. While not yet a core revenue driver, the expertise could provide diversification opportunities.

The company’s frequent press releases on holdings have created a cadence of news flow that keeps it in the spotlight among retail and institutional crypto watchers. With roughly 455 million shares outstanding and a market capitalization near $9.7 billion, Bitmine trades as a mid-cap name with outsized crypto leverage.

As of mid-April 2026, the stock’s 52-week range spans from lows near $3.20 to highs above $160, underscoring the speculative nature of the name. Volume has spiked on announcement days, reflecting heightened trader interest.

Bitmine positions itself as more than a miner or a holding company — it aims to be an active participant in the Ethereum network through staking and infrastructure. Whether this “Ethereum treasury” model delivers sustainable shareholder value will depend on crypto market cycles, execution on MAVAN and prudent capital allocation via the buyback.

For now, with shares hovering around $21.57 and a massive treasury backing the story, Bitmine Immersion Technologies remains one of the most closely watched names at the intersection of traditional mining infrastructure and next-generation digital asset strategies.

NEW YORK — Snap Inc. shares climbed Monday to $4.98, up 16 cents or 3.42%, as the Snapchat parent company drew fresh investor interest from a deepened partnership with Qualcomm Technologies to power future generations of its augmented reality Specs, even as the stock trades near multi-year lows ahead of first-quarter earnings.

The Santa Monica, California-based social media company, which has struggled with profitability and user growth pressures in a competitive landscape dominated by Meta Platforms and TikTok, saw its shares react positively to the April 10 announcement of a multi-year strategic agreement. The deal brings Qualcomm’s Snapdragon XR system-on-chip solutions to upcoming Specs, aiming to deliver more intelligent computing experiences and strengthen the platform for developers and users.

Snap has positioned Specs — its AR smart glasses — as a cornerstone of its long-term strategy to move beyond ephemeral messaging into immersive hardware. The company first teased lightweight, immersive Specs for a 2026 launch, and the Qualcomm collaboration is expected to accelerate that roadmap with advanced processing power for on-device AI and richer AR interactions.

The stock’s modest rebound comes after a brutal start to 2026, with shares down more than 40% year-to-date and trading well below the 52-week high near $10.41. Market capitalization stands around $8.1 billion, reflecting ongoing skepticism about Snap’s ability to scale revenue while navigating regulatory scrutiny, activist investor pressure and slowing daily active user growth.

Snap is scheduled to report first-quarter 2026 results around April 28, with Wall Street expecting revenue of approximately $1.52 billion at the midpoint and a continued narrow adjusted EBITDA profit. For the full year, management has guided toward revenue growth in the mid-to-high single digits while targeting gross margins above 60% and disciplined operating expenses around $3 billion.

In the fourth quarter of 2025, Snap posted revenue of $1.72 billion, up 10% year-over-year, driven by strength in advertising and its Snapchat+ subscription service. The company generated a small GAAP net profit of $45 million, a marked improvement from prior periods, helped by operating leverage and high-margin revenue streams. Gross margin reached 59%, up sequentially.

Daily active users stood at 474 million in Q4 2025, down 3 million sequentially but still reflecting broader engagement among younger audiences. Monthly active users reached 946 million globally, up 6% year-over-year. Snapchat+ subscribers grew 71% to more than 24-25 million, providing a growing recurring revenue base with attractive margins.

Average revenue per user climbed to $3.62 in the quarter, with significant regional disparities: North America generated roughly $9.78 per user while the rest of the world lagged at about $1.15, underscoring Snap’s heavy reliance on U.S. advertisers.

The company has pushed new ad formats, including Total Snap Takeovers, integrated Offers in Snap Ads and dynamic product recommendations, as it seeks to capture more of the advertising funnel from awareness to conversion. Health and pharmaceutical advertising has emerged as a potential growth area, though investors have shown caution over its durability.

Regulatory and safety concerns continue to weigh on sentiment. Snap faces an EU probe into compliance with child protection rules, part of broader scrutiny on social media platforms regarding grooming and underage access. Similar pressures in the U.S. and other markets have raised compliance costs and potential legal risks.

Activist investor Irenic Capital disclosed a stake earlier in 2026 and argued Snap could be worth at least $26 per share with operational changes, including potential strategic alternatives. Management has signaled it is unlikely to pursue major shifts, emphasizing its focus on standalone execution under CEO Evan Spiegel. Wells Fargo analysts noted the company is unlikely to support activist recommendations.

On the product side, Snap continues to invest in AI features, including AI Clips in Lens Studio that turn photos into short videos, and deeper integration with partners like Perplexity for conversational search within Snapchat. The platform generated nearly 2 trillion Snaps in 2025 alone — roughly 63,000 per second — highlighting its cultural stickiness among Gen Z users.

Analyst views remain mixed, with a consensus “Hold” rating across roughly 29-35 firms. The average 12-month price target sits around $8, implying substantial upside from current levels, though targets range widely from as low as $4 to highs near $15. Wells Fargo recently lowered its target to $6 from $8 while maintaining Equal Weight, citing advertising budget concerns. Roth Capital has called the stock a positive tactical trade idea.

Snap’s balance sheet includes a $500 million stock repurchase authorization announced with Q4 results, providing some support for the shares. The company maintains significant cash reserves and has emphasized free cash flow generation as it seeks to turn consistent profitability.

Broader challenges include competition for teen attention, macroeconomic softness in digital ad spending and the high costs of scaling AR hardware ambitions. Speculation around a potential spin-off of the Specs business has surfaced in activist discussions but remains unconfirmed.

CEO Evan Spiegel has described his work schedule as “completely insane” while trying to protect Sundays for family time, underscoring the intense demands of steering the company through a turbulent period for social media.

Looking ahead, investors will scrutinize Q1 user metrics, ARPU trends, Snapchat+ subscriber momentum and any updates on the Specs timeline. Success in diversifying revenue beyond traditional ads — through subscriptions, creator tools and eventual hardware — could help re-rate the stock, but near-term execution risks remain elevated.

The Qualcomm deal provides a tangible boost to Snap’s AR narrative, positioning Specs as a potential differentiator in a market where Meta’s Ray-Ban smart glasses have gained traction. If Snap can deliver compelling consumer hardware in 2026 while stabilizing its core app, it may begin to close the valuation gap with larger peers.

For now, with shares hovering near $5 and earnings on the horizon, Snap remains a high-beta name that swings on product announcements, regulatory headlines and shifting advertising sentiment. The company’s path to sustainable profitability and renewed growth will hinge on monetizing its engaged young user base more effectively while navigating an increasingly scrutinized social media environment.

Monday’s gain, while modest, reflects hope that hardware innovation and diversified revenue can eventually outweigh the current pressures facing one of the original social media disruptors.

‘This expansion marks a defining moment for SEEDS, as we move from research excellence into full commercial deployment’

A pioneering technology company has announced a major expansion in the North East. Engineered graphene technology firm SEEDS will be moving into a new dedicated facility at Sedgefield’s NETPark as part of the £100m expansion of the site. Taking on the new unit will allow the company to move from research and development to commercial production and enable it to supply its technology to major international manufacturers.

The company is targeting customers in the global aerospace, energy, semiconductors, and automotive sectors, with its development supported by the new phase at NETPark, which offers companies more than 285,000 square feet of high-spec laboratory and advanced manufacturing space.

It is hoped the expanded science park will create 1,250 skilled jobs on site and contribute £625m to the local economy over the next decade.

Jason Chehal, founder of SEEDS, said: “This expansion marks a defining moment for SEEDS, as we move from research excellence into full commercial deployment. Over the past decade, we’ve developed a way to engineer graphene not just as a material, but as a platform technology that can be tuned to solve real-world industrial challenges at scale.

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“Moving into our new facility at NETPark allows us to begin delivering customer specific systems across industries including microelectronics, energy storage, aerospace and advanced manufacturing.

“What’s particularly powerful is the ecosystem we’re part of here. Collaborations with CPI, Mitsui, and Pragmatic Semiconductor demonstrate how innovation in County Durham can translate directly into global industrial impact.

“We are now at the point where the technology is proven, the demand is established, and the pathways to market are clear. Each production system we deploy has the potential to support a major manufacturer anywhere in the world. That positions not only SEEDS, but the North East and the UK, at the forefront of next generation materials and electronics.”

Coun Joe Quinn, Durham County Council’s cabinet member for planning, investment and assets, said: “SEEDS’ expansion at NETPark reflects the critical role County Durham plays in the UK’s advanced manufacturing landscape.

“We are delighted to support SEEDS’ growth and would urge any expanding business looking for modern facilities to come and see the exceptional offer we have here at NETPark.”