Why Snap Exploded 50% Higher Today
Shares of Snapchat parent Snap (NYSE: SNAP) were soaring Friday morning, up as much as 54.9% at one point before settling into a 45% gain as of this writing. Of course, the stock had fallen more than 20% yesterday, in sympathy with other social media stocks, amid lackluster earnings from a certain large peer.
However, Snap defied expectations, smashing revenue and earnings expectations and giving strong guidance.
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Source Fool.com
