Bullish options flow was detected in SNAP stock on November 25, 2020.
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On November 23, 2020, Snap Inc. (NYSE: SNAP) announced Spotlight, a new entertainment platform for user-generated content within Snapchat. Spotlight will surface the most entertaining Snaps from the Snapchat community all in one place and will become tailored to each Snapchatter over time based on their preferences and favorites.
As a way to celebrate and reward the creativity of the Snapchat community, Snap will distribute over $1 million USD every day to Snapchatters who create the top Snaps on Spotlight, at least through the end of the year. Snapchatters must be 16 or older, and where applicable, obtain parental consent to earn. Check out details in our Terms.
Snapchatters are some of the most expressive and creative mobile storytellers in the world and Spotlight gives them an opportunity to share their creations broadly. With over 4 billion Snaps created each day1, Spotlight empowers the Snapchat community to express themselves and reach a large audience in a new way.
Spotlight was designed to entertain the Snapchat community while living up to Snapchat’s values, with their wellbeing as a top priority. Spotlight content is moderated and doesn’t allow for public comments. Snaps submitted to Spotlight must respect our content guidelines to receive distribution.
Spotlight is available in the US, Canada, Australia, New Zealand, the UK, Ireland, Norway, Sweden, Denmark, Germany, France, with more countries to come soon.
On November 19, 2020, Snap acquired Voisey, a music app that “looks an awful lot like TikTok,” according to Business Insider’s Shona Ghosh. Source: https://www.businessinsider.com/exclusive-snap-acquires-hot-music-app-voisey-2020-11
On November 19, 2020, Loop Capital analyst Alan Gould raised the firm’s price target on Snap to $49 from $27 and keeps a Buy rating on the shares. The analyst is rolling forward his valuation model to reflect his new 2022 sales estimates for Snap, while also boosting his assumed 2021 expected sales multiple to 15-times from 13-times prior. Gould adds that the higher revenue multiple reflects an acceleration to pre-COVID growth in an environment with high ROI scrutiny in advertising.