Snap Inc. SNAP, -5.22% shares rose in the extended session Thursday after a memo from the chief executive that set a goal of profitability for the full year of 2019. According to an email published by Cheddar, CEO Evan Spiegel said that Snapchat’s parent company was “executing toward our stretch goal” of a break-even final quarter of 2017, and had set full-year profitability for 2019 as an objective. In the long email celebrating the 7th anniversary of the launch of Snapchat, Spiegel acknowledged a difficult experience in redesigning the app in 2018, and established a priority on messaging for the company moving forward. Snap stock gained more than 2% in after-hours trading, but has plunged 46% so far this year and closed Thursday at $7.80, less than half the stock’s $17 IPO price.
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