Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Snap Stock Fell Today

TheMotleyFool

0 0

Shares of Snap (NYSE: SNAP) have fallen today, down by 4% as of 1:15 p.m. EDT, after larger rival Facebook (NASDAQ: FB) rolled out "Avatars" in the U.S. Avatars are Facebook's version of Bitmoji that it initially introduced in Australia last summer.

Facebook has been shamelessly copying Snapchat's most popular features for years with varying levels of success. Snap had acquired Bitstrips, the maker of Bitmoji, back in 2016 for $100 million. Bitmoji are personalized emoji that users can customize to look like themselves in various situations. Avatars started rolling out in Europe last month.

Image source: Snap.

Source Fool.com

Like: 0

SNAP

Share