Snap (NYSE:SNAP) closed at $5.22, up 1.95%, after falling 24.68% this week. Trading volume surged to 89.0 million shares. Despite gains today, Snap has dropped 79% since IPO in 2017.

The S&P 500 rose 1.97% to 6,932, Nasdaq Composite gained 2.18% to 23,031. Meta Platforms closed at $661.46, while Pinterest ended at $19.60 after announcing workforce cuts.

Snap rebounded after a tough week post-earnings. B. Riley upgraded to Buy with a $10 price target. Stifel upgraded to Hold. Investors await augmented reality Spectacles launch later this year.

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Read more at Nasdaq: Stock Market Today, Feb. 6: Snap’s Fallen Almost 25% This Week, Even After Today’s Gains