Shares of Snap (NYSE: SNAP) rose 48.1% in April 2020, according to data from S&P Global Market Intelligence. Snapchat's daily active users increased by 20% year over year, driving revenues 44% higher and shrinking Snap's adjusted net loss by 20%. "While friends and families are physically separated from each other and their regular routines, Snapchatters are coming together virtually to maintain their friendships through visual communication, self-expression, and storytelling," chief business officer Jeremi Gorman said on the first quarter earnings call. Read More...
Why Snap’s Shares Skyrocketed Last Month
Shares of Snap (NYSE: SNAP) rose 48.1% in April 2020, according to data from S&P Global Market Intelligence. Snapchat’s daily active users increased by 20% year over year, driving revenues 44% higher and shrinking Snap’s adjusted net loss by 20%. “While friends and families are physically separated from each other and their regular routines, Snapchatters are coming together virtually to maintain their friendships through visual communication, self-expression, and storytelling,” chief business officer Jeremi Gorman said on the first quarter earnings call.
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