Why Snap Stock Was Gaining Today
Shares of Snap (NYSE: SNAP) were gaining today as Congress appeared to move a step closer to banning TikTok in the U.S. or forcing its parent company, China-based ByteDance, to sell the rights to operate the popular social media app in the U.S.
While there was no company-specific news out on Snap, investors believe that a setback for TikTok would be beneficial to Snap, and the stock rose 7.1% on that logic as of 12:36 p.m. ET.
Image source: Getty Images.
Source Fool.com
Snap Inc Stock
€7.70
-0.180%
Our community is currently high on Snap Inc with 15 Buy predictions and 7 Sell predictions.
As a result the target price of 14 € shows a very positive potential of 81.79% compared to the current price of 7.7 € for Snap Inc.
