You can add one or more labels to a story.
You must create a label before you can add a label to a story
Watch the walkthrough
https://www.loom.com/share/0b9af84f890c458b8b95e75d99c3fff1
Steps
Select the cog icon next to the update
Select Label
This launches the Label popup
Select the Label(s) you want to add
Press Cancel once you have selected the Labels. This closes the popup.
