Snap's stock just went wild in premarket trading—up 16% after dropping two bombshells. First, they're teaming up with Perplexity AI, which is huge considering how AI's reshaping tech valuations lately. Second? A stock buyback program that's got investors buzzing.

The timing's interesting. AI partnerships have been moving markets all year, and Snap clearly wants in on that action. The buyback signals management thinks their shares are undervalued, which often lights a fire under investor sentiment.

What's the play here? Snap's betting that AI integration can revive their growth story while the buyback props up share price. Classic move when you need a momentum shift. Whether this 16% pop holds through regular trading hours? That's the real test. Markets love AI news, but they're equally quick to reality-check the hype.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

12 Likes