Shares of Snapchat parent Snap Inc. SNAP surged 1.1% in afternoon trading Wednesday, which puts them on track to set a new record-long win streak, according to Dow Jones Market Data. The social media company’s stock has run up 18.8% during its current nine-session streak, which would break the previous record of eight sessions first set on June 23, 2020, then matched on Monday. The stock was also headed for it’s best nine-day stretch of gains since it rose 18.9% during the nine days ended March 6, 2023. Snap’s stock rally comes as Meta Platforms Inc.’s META new social media app Threads is set to debut on Thursday, with many hailing it as a Twitter killer. Snap’s stock has hiked up 16.9% over the past three months, while the S&P 500 SPX has gained 8.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
