Early Bird Prime for April 28, 2024

Ah, Snap (NYSE: SNAP) – the rollercoaster of the stock market. If you've been watching Snap's trajectory, you know it has been a bad few years for the social media company.

Let's rewind a bit. Snap, the parent company of Snapchat, hit its peak in 2021. But oh, how the mighty have fallen. Since that peak, Snap's stock has declined by over 80%.

Fast forward to 2024, and Snap has been having a rough go of it. The stock was down over 30% before this week, leaving investors feeling awful.

But hold on tight – here comes the twist. Thanks to some unexpectedly good financial results on Thursday, Snap's stock shot up a jaw-dropping 27%.

In those financial results, Snap pulled a rabbit out of the hat – or should we say, a surprise profit out of the balance sheet. Revenue grew 21% year-over-year, beating all the analysts' best guesses.

Now, the burning question on everyone's mind: Is now the time to buy Snap's stock? Is this the light at the end of the tunnel, or just a flickering candle in a dark cave? Well, here’s the answer: