It continues to remain a volatile time for the markets and investors must be vigilant around inflationary pressures and rate hikes.
However, Snap Inc. reported some extremely well-received Q4 earnings today. Most noteworthy of all? They made $22.6 million in net profit. While it may appear small, it is Snapchat’s first net profit ever. They beat revenue expectations and had some reassuring guidance for Q1. The stock jumped close to 60% in after-hours trading to $38.99. With more positive reports coming from companies such as Amazon.com Inc and Pinterest Inc, the broader stock market saw substantial after-hour gains. For now, U.S. stock futures remain in the green. It is important to remember, this all comes after a punishing session today that saw Meta (formerly Facebook) lose a record $230 billion in value sending most of the market down with it.