Snap Stock Jumps On Reports Of Purchasing In Snap Via AMZ.
Snap stock is rising Tuesday on reports the company has a deal to allow users to directly purchase Amazon (AMZN) products on Snapchat. The deal for Snap (SNAP) follows a similar agreement between Amazon and Facebook parent Meta (META).
The agreement will allow Snap users to buy Amazon products they see advertised on Snapchat directly through the app. The arrangement was first reported late Monday by The Information.
Snap stock is up 9% at 12.34 in recent action on the stock market today.
Amazon Collaborates With Snap
Amazon confirmed details of the arrangement to Reuters. Snap users will be able to see real-time pricing, Prime eligibility, delivery estimates and product details on select Amazon product ads within Snapchat.
The deal is similar to one struck between Amazon and Snap's larger rival, Meta. Users on Meta's Instagram and Facebook will also be able to shop Amazon directly on each app after linking their accounts.
Snap Stock: Sales Bouncing Back
Snap, meanwhile, is coming off its first quarter this year with year-over-year sales growth. The company reported a 5% revenue increase for the third-quarter.
Price Momentum
SNAP is trading near the top of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
The agreement will allow Snap users to buy Amazon products they see advertised on Snapchat directly through the app. The arrangement was first reported late Monday by The Information.
Snap stock is up 9% at 12.34 in recent action on the stock market today.
Amazon Collaborates With Snap
Amazon confirmed details of the arrangement to Reuters. Snap users will be able to see real-time pricing, Prime eligibility, delivery estimates and product details on select Amazon product ads within Snapchat.
The deal is similar to one struck between Amazon and Snap's larger rival, Meta. Users on Meta's Instagram and Facebook will also be able to shop Amazon directly on each app after linking their accounts.
Snap Stock: Sales Bouncing Back
Snap, meanwhile, is coming off its first quarter this year with year-over-year sales growth. The company reported a 5% revenue increase for the third-quarter.
Price Momentum
SNAP is trading near the top of its 52-week range and above its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
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