This Thursday, Snap stock opened at $9.92 and hit a high of $10.07; lowest trading price was $9.77, it closed at $9.78. In the same trading session, the stock’s trading volume was 18.99 million.
Snap Inc(NYSE: SNAP) is a United States-based technology and social media giant, famous for its Snapchat application. In the May 25 trading session, the company’s stock price fell around 0.20%.
Thursday’s trading range for Snap stock was $9.77-$10.07; the closing price on May 24 was $9.80. TradingView shows the 52-week trading of a company’s stock is $7.33-$16.55. In the weekly trading session, Snap Stock gained 6.19%, but in the monthly trading session, the stock lost 4.02%.
Revenue and Earnings of Snap Inc.
Over the last few quarters, Snap’s reported revenue was lesser than the estimated figures. In Q3 2022, Snap registered 1.28% less revenue compared to the estimated revenue of $1.14 billion. Similarly, in Q4 2022 company’s revenue fell by around 0.47%.
In 2022 Snap Incorporation generated $3.10 billion in revenue from the United States alone, $712.76 million and the remaining portion was generated from the rest of the world. The company’s overall market capitalization is $14.44 billion and is expected to reach $14.82 billion by the end of 2023.
Snap Inc.’s current average assets are worth $8.51 billion and the figure is expected to touch $7.05 billion by the end of 2023.
Investment, Acquisitions and Investments of Snap Inc.
As per the data from Crunchbase, the leading social media giant has raised around $4.9 billion in 15 funding rounds; some of Snap’s major investors include Tencent, Glade Brook Capital Partners, Alibaba Group, Kleiner Perkins and Alwaleed Bin Talal, among others.
Notably, Snap Inc. has invested in more than 15 companies. Some of these companies include leading companies – Autio, Stipop, Stacks, Loco Adventures, Waffle Journal, and ShareChat among others.
Snap recently acquired Th3rd on March 25 for an undisclosed amount, and some other acquisitions include Nextmind, Popwallet, WaveOptics, Pixel8Earth, Vertebrae, Fit Analytics, Voisey and Ariel AI.
Overview of Social Media Industry in 2023 (till now)
A boost in social media adoption was witnessed during the Covid-19 pandemic. As per several research reports, the user base of Instagram and Snapchat has seen significant changes and climbed upward.
Most recently, Snapchat disclosed that its user base had reached new milestones. Now, the platform has 750 million active users every month. Simultaneously around 350 million users use Snap daily.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/05/26/snap-stock-slipped-intraday-will-the-decline-continue/