Why Snap (SNAP) Stock Is Trading Up Today

What Happened? Shares of social network Snapchat (NYSE: SNAP) jumped 15.9% in the morning session after the company announced a $400 million partnership with AI startup Perplexity, revealed a new $500 million stock buyback program, and posted strong third-quarter financial results. The deal with Perplexity involved integrating the startup's conversational AI answer engine into Snapchat's chat feature, creating a new revenue stream for Snap. Adding to the positive news, the company authorized a plan to rep ...