PYMNTS’ Daily Data Dive: SNAP’s, Snapchat’s Case Of Mistaken Identity

By  |  February 9, 2017
 | 

A  case of mistaken identity took the stock exchange by storm this week.

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    Due to their similar names, investors sent stocks from startup company SNAP Interactive up 164 percent after the IPO filing of Snapchat parent company Snap Inc. The two are not the same. SNAP Interactive develops mobile dating apps.

    Here are the numbers:

    164 percent | Amount SNAP Interactive’s stock surged

    $3 billion | Value of Snap Inc.’s IPO

    $69 million | Market cap of SNAP Interactive after surge

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    10,000 | Shares of the company traded on Wednesday (Feb. 8)

    10x | Amount over daily January trading volumes


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