Benzinga | Oct 5, 2021 11:31AM EDT

Why Snap Shares Are Rising

Snap Inc. (NYSE:SNAP) shares are trading higher, rebounding after dipping in sympathy with Facebook, Inc. (NASDAQ:FB) on Monday. Social media stocks fell on Monday following criticisms of Facebook by a former employee as well as Facebook and Instagram outages.

Technology stocks also dipped on Monday amid a rise in bond yields, which has caused volatility on growth stocks.

Snap 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 2.3% higher at $72.88 per share on Tuesday at the time of publication. The stock has a 52-week high of $83.34 and a 52-week low of $26.51.