Snap Stock Finally Has a Winning Month
It took six months, but Snap, Inc. (NYSE: SNAP) investors finally found a snapshot worth saving, as Snapchat's parent company saw its shares move 6% higher in August. That may not seem like much, but it's the first time Snap stock closed higher since the company went public in early March.
Snap's been in the market's doghouse since peaking at nearly $30 on its second day of trading. It's been largely downhill ever since, and a bounce was inevitable. For Snap, the winning month is the handiwork of a single week during which a pair of bullish analyst moves and a big hit on its Snapchat Discover video platform drove the stock to a nearly 20% pop. The stock moved lower for the balance of August, but a win is still a win.
Image source: Snap, Inc.
Source: Fool.com
