Wow, that is some leap! Those who bought in at sub-$6 are certainly on a decent profit…will it continue?
Even though Snapchat has fallen back a little bit, the share price has performed admirably of late. If the company can continue this improvement in performance, we could see a significant rise from here.
While the share price has fallen back from recent highs, it has not really retraced to the degree that I would have expected - a speculative technology share not likely to make money for some time. Surely very rife for profit taking in current market conditions?
I think a period of consolidation around the $15-$16 mark would not be a bad thing for Snap - better than the single digit share price of recent times!
The purchase of FitBit by Google shows there is interest in smaller bolt-on acquisitions out there - will anyone snap up SnapChat?
I wonder if Snap is in a similar situation to FitBit - just waiting to be taken over and welcomed into a larger better financed group?
With the FitBit takeover by Google I wonder if we are starting to see the larger groups mopping up struggling companies with a decent following? Might Snap be next?