Snap’s stock rallies to best day in nearly a year following user count leak

Snap Inc.
SNAP,
+11.98%
shares rallied for their best day in nearly a year Monday after leaked data indicated the social-media app’s user count was higher than expected. Snap shares surged 12% to close Monday at $9.72, their best one-day performance since Oct. 25, 2022, when the stock gained 15.5%. On Friday, the Verge reported 475 million daily active users by the end of 2024, above an industry estimate of 447 million. A year ago, a leaked memo indicated that Snap was looking for 450 million DAUs by the end of 2023.