Investors may recall Snap’s better-than-expected earnings in February sent the stock higher. SNAP stock has had a horrendous stretch, as it’s now down 83% from its all-time high in September.
However, investors are optimistic that a desktop version will not only increase user growth and time spent on the platform for Snap, but also increase ad revenue. That’s partly due to the selloff in tech and growth stocks and partly due to worries of a recession. Social media stocks have been pressured and banged up. Meta Platforms (NASDAQ: META) and the suddenly Musk-less Twitter (NYSE: TWTR) have not performed well this year, either. It’s no secret that it’s been a difficult time for SNAP stock and other social media companies. This news comes at a pivotal time, as Snap is set to report second-quarter earnings on Thursday. As for when Snapchat for Web will launch, “soon” is all we know for sure. The program launched in June for $3.99 per month and offers more advanced features. will also be able to use Snapchat for Web. Users in Australia and New Zealand will be the first to try it out. The desktop version will mostly focus on its messaging feature versus the stories feature. Called Snapchat for Web, users will soon be able to make video calls, send snaps and messages to friends from their computers. While SNAP stock is rallying today, it will need more positivity to erase this year’s loss, as it’s down nearly 70%.Īfter a decade of solely operating as a mobile app, Snap is getting some positive feedback after announcing its desktop version. The move comes on news that the company plans to add a desktop version to its platform. Snap (NYSE: SNAP) shares are rising on Monday, up about 5%.
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