Overview

• Snap rose 6.61% in pre-market trading on September 22 to $8.71 after a prior close of $8.16.
• The move followed the unveiling of fifth‑generation Spectacles and Snap OS 2.0, with a 2026 public launch goal for AR glasses and strong early feedback from marketers on AR ad potential.
• Retail chatter about a possible deal accompanied the rally as Snap trended on Stocktwits, message and trading volumes surged, and short interest reached about 8.50%, prompting short‑squeeze speculation.
• Despite the pop, Snap remains unprofitable after a $546.3 million trailing‑year loss and a Q2 2025 miss, and it faces a class‑action lawsuit over advertising revenue statements.
• Snap reports $2.89 billion in cash with a high debt‑to‑equity ratio near 203%, projects $7.5 billion revenue and roughly $827 million earnings by 2028, and sees widely split investor valuations from about $8.23 to $18.82 per share.