Actionable news
All posts from Actionable news
Actionable news in SNAP: Snap Inc,

Snap shares up ahead of results; options traders eye steep stock swing

FILE PHOTO - A woman stands in front of the logo of Snap Inc. on the floor of the New York Stock Exchange (NYSE) while waiting for Snap Inc. to post their IPO, in New York City, New York, U.S. on March 2, 2017.

SAN FRANCISCO/NEW YORK (Reuters) - Shares of Snap Inc (SNAP.N) rallied on Wednesday as options traders buckled in for the social media company's quarterly results and after an analyst said the beaten-down stock was "getting interesting."

Shares of Snap, owner of the popular messaging app Snapchat, have been punished by investor concerns about user growth and waning confidence in the company's ability to ever turn a profit. The shares are down 50 percent from the record high reached shortly after Snap's market debut in early March.

Shares of Snap closed up 4.15 percent at $13.56 on Wednesday, still well below the $17 price in the initial public offering, the third-largest IPO...