Wallace Witkowski came to MarketWatch from the Associated Press in New York, where he covered the business of Big Pharma, after covering FDA regulation of many of the same companies, as well as medical devices, in the Washington, D.C., area.
Snap Inc.
shares rallied for their best day in nearly a year Monday after leaked data indicated the social-media app’s user count was higher than expected. Snap shares surged 12% to close Monday at $9.72, their best one-day performance since Oct. 25, 2022, when the stock gained 15.5%. On Friday, the Verge reported 475 million daily active users by the end of 2024, above an industry estimate of 447 million. A year ago, a leaked memo indicated that Snap was looking for 450 million DAUs by the end of 2023.
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