Why Snap's Stock Is Trading Higher Today

Snap SNAP shares are trading higher following a report suggesting the company said monthly active users surpassed 500 million. The company hosted its Snap Partner Summit 2021 today and announced and highlighted products and partnerships.

The event highlighted new tools, monetization opportunities and gave details on new partnerships.

Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe. Snap generates nearly all of its revenue from advertising with 88% coming from the U.S. 

Snap was trading 5.47% higher at $56.86 per share at the time of publication. The stock has a 52-week high of $73.59 and a 52-week low of $16.51.