This analysis focuses on identifying the reasons behind Snap's stellar stock market performance yesterday and the factors behind disappointing ARPUs. Social media stocks also received a boost last week on the back of Meta Platforms, Inc's ( META ) recovery. Yesterday, in a surprise move, Snap shares rose nearly 10% aided by Texas Governor Greg Abbott's announcement of a statewide TikTok ban. In fact, Q4 earnings yet again disappointed investors, triggering a selloff last week while Wall Street analysts threw caution to the wind. In a little over three months, SNAP has surged 26% higher against the S&P 500's 7% gain but unfortunately, these gains have nothing to do with a notable improvement in the company's financial performance. ( NYSE: SNAP) last October, SNAP stock was struggling around $9.50. “‘Snap’ gave me the best and most productive year of my life.When I published a bullish investment thesis for Snap, Inc. “After, that’s when I knew it was real,” Rosa Linn says.
Its popularity on TikTok pushed “Snap” up the Billboard charts, leading to its Billboard Hot 100 debut at No. More than one million videos were uploaded to the platform using the quicker, pitched-up version of “Snap,” with users showing everything from favorite recipes to sweet moments with their pets, as well as participating in a wholesome trend in which people highlighted the “color palette” of their hair, skin and eyes. And after a fan-made, sped-up version of the track was uploaded to TikTok, “Snap” began to go viral. Rosa Linn began “experimenting” with different videos on the platform, including acoustic performances, remixes and POV-style clips showing the behind-the-scenes action at Eurovision.
Turns out it was the smartest thing they could have done. Rosa Linn (left) and Tamar Kaprelian photographed on November 11, 2022 in Malibu, Calif.
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