Why Snap Stock Was a Winner on Wednesday
Social media company Snap (NYSE: SNAP) saw its share price creep higher on Hump Day, thanks mainly to the announcement of a new product. The company will face some stiff competition, however, so the market's bullishness was guarded; the stock only rose by 1.2% on the news. That was good enough to beat the S&P 500 (SNPINDEX: ^GSPC), though, as that indicator fell by 0.3% on the day.Toward the end of Tuesday's trading session, Snap announced that it is launching a new line of tech-enhanced eyeglasses called Specs. In the announcement, made at this year's annual Augmented World Expo, the company said the rollout would occur next year. It did not get more specific. Image source: Getty Images.Continue reading
Social media company Snap (NYSE: SNAP) saw its share price creep higher on Hump Day, thanks mainly to the announcement of a new product. The company will face some stiff competition, however, so the market's bullishness was guarded; the stock only rose by 1.2% on the news. That was good enough to beat the S&P 500 (SNPINDEX: ^GSPC), though, as that indicator fell by 0.3% on the day.
Toward the end of Tuesday's trading session, Snap announced that it is launching a new line of tech-enhanced eyeglasses called Specs. In the announcement, made at this year's annual Augmented World Expo, the company said the rollout would occur next year. It did not get more specific.
Image source: Getty Images.
