Is there any particular reason why the Snapchat share price is so strong? I was under the impression not too long ago that this one was literally dying a death. What has turned it around?
Snapchat and Twitter are two social media shares which are performing much better than many would have expected. Only six months ago they appeared to be dead and buried but have risen from the dead!
My initial reaction is that the shares are consolidating, with support lines catching up, ahead of a push through $15 then upwards and beyond. Surprising, like many I thought that Snapchat was dead!
It looks to me as though Snapchat shares are in breakout and set to move significantly higher. Obviously one for the brave but a very interesting one nevertheless!
Guidance ahead of results on 23 July:- https://finance.yahoo.com/news/snap-snap-report-q2-earnings-151303508.html
Not necessarily the end of the bull run - $14 is a very important support level. The forthcoming results will be very very important.
It all looks encouraging to me:- https://investor.snap.com/news-releases/2019/07-23-2019-211107490 Not exactly setting the world alight with growth figures but steady as she goes.