Snap spikes 6% on entry into video-gaming market with Snap Games. Other products were also announced at the 2019 Partner Event Summit.
Other products in the pipeline include updates to the company's popular Lens product, increased streaming content, and further integration with apps such as Netflix.
Analysts were broadly positive though several remained cautious as expectations of revenue and profitability remained unclear. "These should create engagement opportunities, but material monetization opportunities of this new engagement remains unclear," noted Morgan Stanley analyst Brian Nowack.significant amount of senior executive departures
. Recent sentiment around the name has been increasingly positive, driving up shares by more than 100% year-to-date. The company has also seen a plethorea of favorable research coverage. "Snap has been taking positive steps to improve its culture, put greater restraints on spending, and focusing on increasing the relevance and measurability for its advertisers," Jefferies analyst Brent Thill said."While not out of the weeds yet, Snap's reach of 90% of 13-24 year olds in the US is unrivaled.""SNAP gapped above $10.50 in March which was an indication of buying demand, in our view," said Ari Wald, head of technical analysis at Oppenheimer.
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