Snap Stock Snaps Back: 1 Big Reason to Buy It Right Now
Snap (NYSE: SNAP), the parent company of popular social media platform SnapChat, reported its financial results for the fourth quarter and full-year 2022 after the close of trading on Jan. 31.
Investors were largely unimpressed by the company's lack of revenue growth, and Snap stock sank by more than 10% the following day. But the pessimism lifted when the company's main rival, Meta Platforms, released its own results, which outperformed across the board.
It gave investors hope that Snap's challenges will resolve in the coming quarters, so they rushed back into the stock, sending it up 10% on Feb. 2. But Snap stock could be a buy right now on its own merits, and there is one number in particular that has consistently climbed despite a challenging economic environment.
Source Fool.com
