Why Snap Stock Was Gaining Today
Shares of Snap (NYSE: SNAP) were gaining today as Congress appeared to move a step closer to banning TikTok in the U.S. or forcing its parent company, China-based ByteDance, to sell the rights to operate the popular social media app in the U.S.
While there was no company-specific news out on Snap, investors believe that a setback for TikTok would be beneficial to Snap, and the stock rose 7.1% on that logic as of 12:36 p.m. ET.
Image source: Getty Images.
Source Fool.com
Snap Inc Aktie
5,02 €
14,45 %
Leichte Kaufstimmung für Snap Inc: Mehr Buy- als Sell-Einschätzungen.
Ein prognostiziertes Kursziel von 8 € für Snap Inc zeigt ein Potenzial von über 50% im Vergleich zum aktuellen Kurs von 5.02 €.
