Shares of Snap Inc. SNAP, +1.52% were ahead about 1% in morning trading Monday and on track to extend their winning streak to an eighth consecutive session.
If the stock closes in the black, it would secure its longest winning streak since June 23, 2020, when it rose for eight straight trading days, according to Dow Jones Market Data. The stock is up 16.9% over its current eight-session stretch. The company announced late last week that its Snapchat+ subscriber service has amassed 4 million subscribers since launching a year ago. Snap also previewed new features for the service around colors and font sizes for messaging. The recent rally in Snap shares comes even as a Wells Fargo analyst cautioned last week that he expected the company to see a more “subdued” growth trajectory in the second half of the year than its peers would.