Well that didn’t take long.
Just 8 months after being taken public by Morgan Stanley, Snap, the err, sunglasses company is showing all the telltale signs of impending death.
The latest earnings (losses) report had absolutely nothing in it that may even shed the slightest bit of blue sky for Snap.
Since our first post about Snap and the IPO, we have cautioned our subscribers to stay clear being long and for those with a higher risk tolerance, a short position was/is warranted.
We have a year-end target of $8 and we continue to think Snap will head south and reach our target. (Snap shares are currently trading at $12.38).
As it stands today, Snap is dead in the water.
P.S. The more we learn about Ethema ($GRST) the more we love it. More on this very soon.
P.P.S. Nightfood ($NGTF) also looking very interesting.
P.P.P.S. Dr. Stewart Southey will be reviewing an ICO Pre-sale.
Wishing everybody a wonderful weekend,