You are here

Snap Stock Price Rises 6% Following eMarketer Forecast Saying Facebook Is Losing Teen Users

Snap Stock Price Rises 6% Following eMarketer Forecast Saying Facebook Is Losing Teen Users
Share:

Stocks of Snap are soaring after a forecast by eMarketer indicated the company is attracting teen users. On Tuesday, Snap was up by 6%, after a survey on youngsters showed they prefer Snap over Facebook.

According to this survey, teenagers in the age range of 12-17 are shifting from Facebook to Snapchat and Instagram. If this is the trend, Snapchat will race ahead of Facebook and Instagram when it comes to users in this age group. eMarketer predicted the company will grow its user base at a rate of 25.8% in the year 2017.

On Monday, the stock price of Snap fell slightly breaking its five-day winning streak.

The shares were going berserk at a rate of 18.5%.

It finally looks like good news for the company as it seemed to perform well in the market and broke free from the clutches of the lockup expiration shadow. The lockups were a preventive measure designed to prevent the insiders from flooding the market with shares during its IPO. However, over 1.2 billion shares of Snap were unlocked last month and since then the company’s stock price has been at the bottom level.

Snap is currently trading at $14.42 as of Tuesday afternoon. This price is 15% less than the price at time of IPO, which was $17.

Facebook still remains the largest social media platform in the world.


Share:
Anirudh Menon
Anirudh Menon
I have adorned multiple hats during my professional journey. My experience of 14 years comes in areas like Sales, Customer Service and Marketing. My journey as a professional writer started 5 years back, when I started writing for an in-house magazine for my employer. Having successfully delivered many in-house projects, it encouraged me to take my skill to the world. As on day, I have written articles, blogs website content for various industries like Information Technology, Start-up, Retail and Government. The subjects that I have covered range from Digital Marketing, SAP Cloud Platform, Cloud Computing, Content Marketing , Politics. Enhancement is a process and I constantly thrive to add more subjects in my portfolio. Over and above content writing, I also train language and communication to students who want to brush up their speaking skills. I am a part time trainer for IELTS coaching and also work as a budding voice over artist.

    Similar Articles

    Additional Resources to Download

    Top