Snap hits its best levels since its earnings disaster

Jonathan Garber

Shares of Snap are trading higher by 3.01% at $13.36 apiece, their highest since the company's disasterous third-quarter earnings report.
Back on November 7, the company announced disappointing user growth and revenue that fell well short of expectations, sending shares down by about 15%.
The following morning, Tencent, the Chinese company behind WeChat, announced it had acquired a 10% stake in the company in the open market. That day, Snap shares bottomed at $12.10, and have rallied about 9% ever since.
Snap's stock is down 21.4% since the company went public on March 1.