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Why Snap Stock Gained 10% in August

TheMotleyFool

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Shares of Snap (NYSE: SNAP) finished a volatile month on the positive side, gaining 10% in August, according to data from S&P Global Market Intelligence.

The Snapchat parent gained in the first half of the month on a number of different factors, including news that its Snapchat+ premium product had reached 1 million subscribers. Shares then gave up much of those gains on jitters about rising interest rates before ending the month with a pop on news about layoffs and other cost-cutting measures.

The chart below shows the stock's volatility over August.

Source Fool.com

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