SNAP is up almost 200% this year.
After its stock market debut two years ago floundered, Snapchat has made a strong comeback in 2019: Its shares have risen nearly 200%, outpacing the broader market and easily eclipsing the rest of its peers in the technology sector.
Snapchat’s stock has eclipsed its peers in the tech sector this year: It is by far and away the best-performer in the. While rival companies like Facebook and Pinterest are up 40% and 23%, respectively, they can’t compare with the triple-digit growth in Snap’s share price. After being written off two years ago, the social media company’s user base and engagement is finally growing again. When Snap had its IPO in March 2017, valued at $31 billion, it hoped to become the next big Facebook. But the app never really caught on with the masses—instead, mostly with younger users, as many adults and advertisers found it difficult to use.
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