Snap Inc. Stock Rallies on Saturn Acquisition and AR Expansion
Snap Inc. shares surged 6.27% to $8.65 in early trading June 27, buoyed by heavy volume and strategic moves. The social media firm acquired Saturn, a teen-focused calendar app, signaling deeper penetration into student networking markets.
Augmented reality remains a Core growth driver. Snap plans sixth-generation AR glasses by 2026, evolving beyond its Spectacles line. The company's AR ecosystem—including Lens Studio and Camera Kit—continues attracting developer interest for cross-platform integration.
Despite the rally, long-term performance remains bleak. Shares have declined 47.65% year-over-year and 62.40% over five years. Technical traders note the 'gap and go' pattern as bullish momentum builds, with $8.72 serving as a key resistance level.
