Snap, After Huge Q2 User Growth, Has Now Tripled in Value Since Start of 2019

About 6 months ago, Snapchat looked like Instagram’s roadkill

If you picked up a few shares of Snap Inc., Snapchat’s parent company, over the holidays last December, congratulations: Snap’s stock, one day after the company reported its best user growth in years, has surged 17.5% on Wednesday morning and has now tripled in value since the start of the year.

Snap shares were trading at $17.4 early Wednesday — a far cry from where the Los Angeles-based company was in early January, when it was trading at $5.79 per share. Even bleaker, Snap sank below $5 per share a week before Christmas 2018.

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Sean Burch

Tech reporter • • @SeanB44