What's Going On With Snap Stock Tuesday?

Snap Inc SNAP stock is on the rise Tuesday amid reports of Amazon.com Inc AMZN looking to allow Snapchat users in the U.S. to buy some products listed on the e-commerce company directly from the social media app.

Amazon recently forged a similar deal with Facebook-parent Meta Platforms Inc META.

Also Read: Snapchat Parent Company Announces Layoffs in Product Team Overhaul

Customers can shop directly from Amazon's Snapchat ads and check out without leaving the social media app, Reuters cites from a company statement.

Potential buyers could also see real-time pricing, Prime eligibility, delivery estimates, and product details on select Amazon product ads in Snapchat as part of the new experience.

The deal marks Amazon's ambitions to boost its product offerings via social media applications. It would also be a boost for Snap.

Amazon's deals coincided with the upcoming holiday season when consumers love to splurge on themselves. 

Interestingly, Amazon kicked off its Black Friday event earlier than last year on November 17, doling out deep discounts on a wide range of products.

Amazon Prime members saved over $1 billion across millions of deals during Prime Big Deal Days on October 10 and 11. 

Price Action: SNAP shares traded higher by 9.07% at $12.33 on the last check Tuesday.