Snapchat can thank India for its soaring stock price ...Middle East

Quartz - Economy
Snapchat can thank India for its soaring stock price
source : Quartz ( Middle East ) () 13
Snapchat’s stock price briefly hit an all-time high today (Dec. 29) after receiving a very enthusiastic buy rating from analysts at Goldman Sachs, who boosted their 12-month price target for the stock by two-thirds, citing new features, strong ad sales, and a growing user base.Snapchat’s user base has grown 75% in the two years since it plateaued during a disastrous 2018. In that inauspicious year, the app began losing users, prompting a string of company executives to quit and elegies from both Fox News and Kylie Jenner. Snap Inc.’s stock price sank to $5 a share, down from the $17 it commanded during an ebullient 2017 IPO.Then, in 2019, a miracle happened: Snapchat started growing again. A

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