Is Snapchat Stock is Setting Up Its Next Leg Up? – Entrepreneur

Social media platform Snap Inc. (NYSE: SNAP) stock has surprised investors to the upside as it continues to expand its products and user growth. Daily active users (DAU) rose 23% in Q2 2021 to 293 million. The platform has gotten much deeper during the pandemic as the Company launched it Spotlight product. Spotlight DAU grew 49% with average daily content submissions more than tripling and daily time spent by U.S. users rose 60% sequentially. The Company is operating on all cylinders constantly expanding its partnerships and products. The level of sophisticated synergies is impressive and its DAU continues to grow, unlike its peer Pinterest (NASDAQ: PINS) which is showing a decline as users leave home with the acceleration of COVID vaccinations. Fears of a DAU reversion for Snapchat usage upon the return to work and the reopening trend has so far been put to rest, but still lingers in investors’ minds. Prudent investors seeking exposure in this growing social media platform can watch for opportunistic pullbacks in shares. Depositphotos.com contributor/Depositphotos.com – MarketBeat Q2 FY 2021 Earnings Release On July 22, 2021, Snap released its fiscal second-quarter 2021 results for the quarter ending June 2021. The Company reported an adjusted earnings-per-share…
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