Facebook jumps after announcing another key move in its quest to crush Snapchat

Facebook is up 1.23% at $130.96 a share after announcing another key move in its quest to crush Snapchat.

After successfully copying Snapchat with Instagram Stories, Facebook is trying to do it again.

The same interface, which Facebook is calling Facebook Stories, is currently being tested in the Facebook mobile app, a company spokesperson told Business Insider on Wednesday. Facebook Stories could also prove to be a new way for the company to monetise its 1.8 billion users.

In other Facebook news, Mark Zuckerberg says he has no plans to run for president, despite his statesmen-like 2017 tour of the United States.

He is also “reconsidering” suing Hawaiians to make them sell their stakes in parcels of land scattered throughout his Kauai estate, he told Business Insider on Tuesday.

Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. Go Now!

NOW WATCH: Here’s how to use one of the many apps to buy and trade bitcoin

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.