Snap (SNAP) Stock Pops on 'Snapchat Plus' Rumors

Shares of Snap (NYSE: SNAP) are up almost 2% in pre-market Friday after The Verge reported the company is working on a subscription service called “Snapchat Plus.”

The service is reportedly in “early internal testing,” according to Snap spokesperson Liz Markman.

“We’re doing early internal testing of Snapchat Plus, a new subscription service for Snapchatters. We’re excited about the potential to share exclusive, experimental, and pre-release features with our subscribers, and learn more about how we can best serve our community,” she told The Verge.

Posts circulating on social media showed the new service will come with new features, such as the ability to have one of your friends as “#1 BFF”, change the Snapchat icon, see who rewatches your stories, etc.

Some social media users rumored that the price could be set at 4.59 Euros a month or 45.99 a year.

By Senad Karaahmetovic

You May Also Be Interested In

• These two Japanese IT names are set to drive enterprise AI monetization: Citi
• Bernstein lists 3 U.S. retail stocks to buy into Q2 earnings
• Can Sainsbury’s overcome general merchandise headwinds as Tesco gains ground?