The stock price of Snap Inc. (NYSE:SNAP) declined to as low as $4.82 per share by the end of last year as the camera company struggles to achieve significant user growth.
Investors became concern that Snapchat’s fate will be similar to Twitter (NYSE: TWTR), which failed to achieve meaningful user growth for years. Over the past five years, TWTR stock dropped from its highest trading price of $54.91 per share to $30.78 per share, its closing price on Thursday.
New Android app will boost Snap’s international growth
Snap CEO Evan Spiegel alleviated investors’ concerns during the Morgan Stanley Technology, Media & Telecom Conference in San Francisco on Monday.
Spiegel expressed confidence that Snapchat’s new Android app will propel its growth overseas particularly in countries where there are hundreds of millions of smartphone users such as India, Indonesia, and the Philippines. There is a strong possibility for Snapchat to become popular in these countries once its new Android app offers a better experience.
