Options Market Statistics: Snap's Stock Rallies to Best Day in Nearly a Year Following User Count Leak, Options Pop

On Monday, CNBC asked Ark Invest CEO Cathie Wood how she could label a stock like Nvidia as costly based on its forward price-to-earnings ratio, especially when a major holding in her portfolio, Tesla Inc, has a price-to-earnings ratio that's twice as high.

Wood said that the discrepancy arises because analysts are skeptical about Tesla's autonomous and robotaxi potential playing a significant role, a perspective she does not share. The fund manager sees "incredible" revenue and margin expansion ahead for Tesla. The electric vehicle company has margins that are in the 20s, a figure that could expand to the 60s or 70s with future autonomous efforts, according to Wood. Nvidia, by comparison, has already realized margin expansion thanks to its chip demand in 2023, which could put pressure on future growth.

Snap Inc. shares rallied for their best day in nearly a year Monday after leaked data indicated the social-media app's user count was higher than expected. Snap shares surged 12% to close Monday at $9.72, their best one-day performance since Oct. 25, 2022, when the stock gained 15.5%. On Friday, the Verge reported 475 million daily active users by the end of 2024, above an industry estimate of 447 million. A year ago, a leaked memo indicated that Snap was looking for 450 million DAUs by the end of 2023.