Snap (NYSE:SNAP) gains as short interest drops, putting squeeze bets in question
Snap Inc. climbed roughly 7.1% to $4.75 in late trading Wednesday. That move was larger than what recent short interest figures suggested. Regular trading on the NYSE closed at 4:00 p.m. ET, and by 17:01 EDT, the session had ended. Snap’s 31.5-cent rise on 1.689 billion shares adds up to a market cap gain of about $530 million for the day. That’s about the same as the $535.62 million in Snap shares sold short, according to the latest data.