Snap Inc. Looking at 6th Consecutive Gain as Newly Implemented Features Sees Good Numbers

Snap

After months of falling, it looks like Snap Inc. (NYSE:$SNAP) is finally seeing some gains. Although the company is still trading way below its IPO when Snap’s stock first went public in March, today could mark the sixth consecutive gain for Snap. On Friday, August 18th, the company’s stock had risen by about 4.95%. It’s gained about 20% overall ever since its upward streak began about 5 days ago.

Even with the gains, however, Snap’s stockholders remain concerned about Snap’s upcoming lockup period expiration. But shareholders shouldn’t be too worried – while some Snap executives have sold their shares after their lockup expiration date, co-founders Evan Spiegel and Bobby Murphy are adamant in not selling their shares for at least a year. This signals a company whose leaders fully believe in its work. Additionally, there are only around 20 million shares out of the 1.2 billion shares that had been locked up left to be released, and so far the stock hasn’t crashed and burned like the many had expected it to.

Snap has also been implementing new features on its popular social media app, Snapchat. This follows the intense competition Snap faced with Facebook’s (NASDAQ:$FB) Instagram as Instagram Stories began to gain more traction than Snapchat. Snap’s newest feature, Crowd Surf, allows for users to access and virtually move around a concert in real time. As well, Snap’s recently launched news show “Stay Tuned” with NBC (BKK:$NBC) has garnered about 29 million views in less than a month. Snap’s push for newer, more unique features shows a company that is not going to stop fighting for what it’s created – a rather impressive and admirable trait.

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About the author: Grace is currently studying at UBC to achieve her BA in Computer Science. She is due to graduate in 2020. As a content creator, Grace has written financial analysis, stock market news, and informational investing articles. She also worked as an editor with her university publication 'UBC Undergraduate Journal of Art History'.