Why Snap Stock Jumped 23% in February

Shares of Snap (NYSE: SNAP) were a winner last month after the social media company smashed expectations in its fourth-quarter earnings report. The market had expected weak results from the Snapchat parent, following Meta Platforms' disappointing results the day before, but Snap did just the opposite. It ended up with a 23% gain in February, according to data from S&P Global Market Intelligence, even as most tech stocks fell.

As you can see from the chart below, the stock fell sharply on Feb. 3 after the Facebook owner reported earnings, but then surged the following day on its own Q4 update.

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Source Fool.com