24H | Snap Shares Surge 13%, Extending Last Week’s Rally

Tiger Newspress

Sep 22

Social media company Snap shares surged 13.2% in overnight trading. No news or catalyst known so far.

Snap stock closed 3.32% lower at $8.16 on Friday, September 19, after six straight sessions of gains.

Nonetheless, the stock had been on a winning streak.

The Snapchat creator last week released Snap OS 2.0, the XR operating system powering its fifth and upcoming sixth gen Spectacles AR glasses, which are expected to launch next year. The shares jumped 11.2% last week.

JMP Securities maintained its Market Perform rating on Snap on Thursday, with analyst Andrew Boone citing positive feedback from marketers about the platform’s performance.

US President Trump last week issued a new executive order on the U.S. operations of TikTok, delaying enforcement of an effective ban once again. The delay benefits Snap because it implies that the Chinese/American deal -- the specifics of which have yet to be provided -- will take some time to implement. In the hands of well-capitalized American investors, TikTok on our shores could be developed into a giant social media company that might eat share from sector players like Snap.

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No news or catalyst known so far.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b0ec0461cecac9a4b0f9529026deb8c6\" title=\"\" tg-width=\"540\" tg-height=\"187\"/></p><p>Snap stock closed 3.32% lower at $8.16 on Friday, September 19, after six straight sessions of gains.</p><p>Nonetheless, the stock had been on a winning streak.</p><p>The Snapchat creator last week released Snap OS 2.0, the XR operating system powering its fifth and upcoming sixth gen Spectacles AR glasses, which are expected to launch next year. The shares jumped 11.2% last week.</p><p>JMP Securities maintained its Market Perform rating on Snap on Thursday, with analyst Andrew Boone citing positive feedback from marketers about the platform’s performance.</p><p>US President Trump last week issued a new executive order on the U.S. operations of TikTok, delaying enforcement of an effective ban once again. 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No news or catalyst known so far.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b0ec0461cecac9a4b0f9529026deb8c6\" title=\"\" tg-width=\"540\" tg-height=\"187\"/></p><p>Snap stock closed 3.32% lower at $8.16 on Friday, September 19, after six straight sessions of gains.</p><p>Nonetheless, the stock had been on a winning streak.</p><p>The Snapchat creator last week released Snap OS 2.0, the XR operating system powering its fifth and upcoming sixth gen Spectacles AR glasses, which are expected to launch next year. The shares jumped 11.2% last week.</p><p>JMP Securities maintained its Market Perform rating on Snap on Thursday, with analyst Andrew Boone citing positive feedback from marketers about the platform’s performance.</p><p>US President Trump last week issued a new executive order on the U.S. operations of TikTok, delaying enforcement of an effective ban once again. 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The shares jumped 11.2% last week.JMP Securities maintained its Market Perform rating on Snap on Thursday, with analyst Andrew Boone citing positive feedback from marketers about the platform’s performance.US President Trump last week issued a new executive order on the U.S. operations of TikTok, delaying enforcement of an effective ban once again. The delay benefits Snap because it implies that the Chinese/American deal -- the specifics of which have yet to be provided -- will take some time to implement. In the hands of well-capitalized American investors, TikTok on our shores could be developed into a giant social media company that might eat share from sector players like Snap.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}