Why Snap Shares Are Rising

Shares of several companies in the broader technology sector, including Snap Inc. SNAP are trading higher in sympathy with the overall market on optimism Congress will near a deal that would prevent a government shutdown.

During yesterday's after hours session, Snap announced Spotlight Challenges which will offer snapchatters the chance to win cash prizes for creating top-performing spotlight snaps using specific lenses, sounds, or #topics.

Snap Inc. operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight.

Snap's stock was trading about 4.6% higher at $76.52 per share on Thursday at the time of publication. The stock has a 52-week high of $83.34 and a 52-week low of $26.68.

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