Snap Stock Price Jumps Snap just released their most recent quarterly earnings results and Wall Street is pleased.
Moreover, Wall Street is ecstatic sending shares up almost 60% at one point today.
However, the stock is still down about 50% from its highs over the past year. Snap’s results disappointed last fall on top of a tech-wide sell-off causing the shares to hit a fraction of their price in a short period. A stock nearly $80 per share reached almost $20 before its recent recovery.
Snap reported over $1 billion in revenues and their user growth also outpaced expectations by Wall Street Analysts.
But, will the young generation continue to embrace Snap? Many of the smartest analysts on Wall Street are skeptical of Snap’s staying power ability over the next decade. Much of that negative sentiment has helped to tank the stock recently.
However, if Snap can put together a few impressive quarters of growth and user retention, then maybe Wall Street’s feelings towards Snap will change for the better. However as we just witnessed with Facebook’s recent stock crash, it only takes one quarter to completely lose any faith that Wall Street might have had in you originally.
