I made a couple hundred off the recent selloff from $14 to below $12... https://www.cnbc.com/2017/08/11/dan...dumps-snap-shares-after-just-one-quarter.html
Is there an element of some shorters closing out their positions in this bounce? When you compare snapchats' short term financials against their competitors they don't look very good?
doing well today & looks like $14's might be coming. 3 Snap Executives Sold Nearly $10 Million in Stock on Monday - https://finance.yahoo.com/m/37fd2ebd-1df1-3f44-b512-cbc0373c594a/3-snap-executives-sold-nearly.html
This doesnt stack up to me. If things were as bad as the share price is saying then surely the company would have looked for a private off market sale before the IPO (there were plenty of interested parties)? While it depends on the amount of stock these execs held/hold in some ways you cant blame them for liquidating some of their holding but why now? I know the lock in period has ended but why now?
Well well well, $15.15 on 8th Sept 17 - didnt expect that in the current market conditions. It has broken 2 of the 3 main trend lines, next resistance $18.
In hindsight, as usual, the time to buy was when EVERYONE turned against this stock and it was in over sold territory.
Could see a short term rebound but after that are the fundamentals strong enough to support the price and move it to the next level?
Yeah, fundamentally I believe it to still be way overpriced - of course that doesn't mean that it won't necessarily hold this price or perhaps even go higher... But it's far too expensive for me. Revenues are far too low to justify a ~ $18 billion market cap IMO... but of course many things in the tech world don't make sense.
I agree JR - everything in the world of social media/technology seems to be based on jam tomorrow. An $18b valuation for an unprofitable business seems mad - then again I think if we look back at the early days scenario with FB it was similar while probably not on the same scale.
