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Snap Projects 50% Annual Revenue Growth for Next Several Years, Stock Hits All-Time High
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UPDATED: At its first investor day conference, Snap outlined a bullish future for the Snapchat app with senior execs saying they expect the company to generate 50% revenue growth over the next several years.
On the upbeat forecast, Snap shares popped 11% for the day Tuesday, with the stock closing at an all-time high of $70.45 per share. The turnaround came after shares dropped nearly 10% earlier in the day. The surge pushed Snap’s market cap over $100 billion, to stand at about $106 billion.
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