Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Patrick Sanders

Snap Has a $400 Million Catalyst Right Now. Does It Make SNAP Stock a Buy?

Social media company Snap (SNAP), the owner of Snapchat, has seen better days. SNAP stock is down a whopping 90% from all-time highs set back in 2021, as it has lost ground to TikTok and to Meta Platforms’ (META) Facebook, Instagram, and Threads.

However, the company has now announced a $400 million deal with Perplexity AI while simultaneously reporting third-quarter results that were better than expected. SNAP stock jumped 15% on the news, although it’s still badly dragging the market so far this year.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.