Benzinga | Sep 21, 2021 02:26PM EDT

Why Snap Shares Are Rising

Snap Inc (NYSE:SNAP) shares are trading higher by 5.6% at $75.76 despite a lack of company-specific news from the session. The stock is rebounding amid today's market volatility following Monday's selloff.

Snap last week announced that Evan Spiegel, co-founder and CEO, will participate in the Goldman Sachs 30th Annual Communacopia Conference on September 22, 2021 at 4:35 p.m. ET.

Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe.

Snap has approximately 158 million daily active users. Snap generates nearly all of its revenue from advertising with 88% coming from the U.S. The firm is headquartered in Venice, California.

Snap has a 52-week high of $80.85 and a 52-week low of $23.06.