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Why Snap Gained 15.6% in September

TheMotleyFool

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Shares of Snap (NYSE: SNAP) gained 15.6% in September, according to data from S&P Global Market Intelligence. The social media platform was a winner during an otherwise tough month for tech stocks, as a potential ban on rival Chinese social media platform Tik-Tok could benefit the company.

Additionally, a delay in privacy policy changes to the Apple (NASDAQ: AAPL) iOS14 rollout meant Snap was given a longer amount of time to adjust to new data collection restrictions. Finally, several Wall Street analysts also grew bullish on social media names during the month.

Image source: Getty Images.

Source Fool.com

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