Economic Update: Snapchat Soaring- THE OKLAHOMAN TEEN NEWS

Snapchat dominated the markets last week.

With the Dow Jones rising to all-time highs, it is without a doubt a sign of economic recovery for the United States. They have responded well with the pandemic, having vaccine rollouts almost as fast as any country in the entire world. Thus, they have been able to push past the original failures and succeed. It is a great sign, but will the so-called “stocks of COVID” be able to survive after international immunity?

Companies such as Zoom (ZM) are destined to fall as vaccines get stronger and more ubiquitous to the global community. Meanwhile, others cannot wait for lockdowns to end (airline companies especially). One thing is for sure though: the stock market, regardless of the situation, is always active.

In the social media sectors of wall street, investors are absolutely shocked with the success of Snapchat. Snapchat, a popular social media platform used mainly by teenagers and young adults, the company’s share price jumped $15.00, or 23.82% in one day, absolutely absurd statistics. Techcrunch reports that last week’s run capped off Snapchat’s “best quarter in four years”. Yahoo Finance and others say that the stock is looking bullish, with signs of heavy momentum. Facebook (FB) saw signs of life as well, jumping $18.60 or 5.3% in one day. Twitter (TWTR) also rose slightly before the weekend break.

Health-wise, vaccine companies Pfizer (PFE) and Astrazeneca (AZN) jumped 4.02% and 3.23% respectively over the last week, not bad showings for both places. Moderna (MRNA) is on an absolute tear throughout the souls of Wall Street, climbing 7.84% alone by the Friday closing price. The biotech business skyrocketed 22.60% in share prices in the last week alone. There are heavy signs of bullish behavior. The question is… can it keep up the momentum?

Around the other communities, Tesla (TSLA) saw slight dips on Friday, but overall had a decent week with a 2.20% increase in share price. Technology firm Intel saw drastic dips last week, falling 5.30% on Friday. Apple (APPL) meanwhile had slight rises along with Amazon (AMZN), ending a great week for the NASDAQ, Dow Jones, and the S&P 500 respectively. Wall Street saw one of its better weeks, hopefully it pays off for short and medium-term investors.

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