The sunglasses, social media, camera company – or whatever Snap Inc. is – has yet again surfaced on the IBR radar.
IBR called the first short with a $5.00 price target on $SNAP 16/04/2018.
The shares were then trading at $20.70.
The stock hit our target price and subscribers were handsomely rewarded.
Well, it’s time to do it all again.
Short, with a price target of $5.00 in 2020.
Snapchat is no longer cool.
It is not hip. It is barely a one-trick-pony.
Instagram and TikTok are cool (for now).
Ask any teenager if Snapchat is cool, or the coolest.
Some of our previous notes on Snapchat:
2019, January – Snap – Dead Man Walking
2018, September – SNAP – A Sinking Ship
2018, May – $Snap, Crackle and Pop
2017, November – Snap – Final Chapter ($SNAP)
2017, July – Morgan Stanley to Snap Inc. “Do We Know You?” $SNAP
Still not convinced? One last thing – a list of insider selling:
CEO, 10% Owner Evan Spiegel sold 2,780,978 shares of SNAP stock on 01/15/2020
CFO Derek Andersen sold 47,853 shares of SNAP stock on 12/18/2019
Chief Business Officer Jeremi Gorman sold 31,513 shares of SNAP stock on 12/19/2019
Chief Strategy Officer Jared Grusd sold 31,108 shares of SNAP stock on 12/19/2019
General Counsel Michael J. O’sullivan sold 18,500 shares of SNAP stock on 12/17/2019
Get short and enjoy the ride down again. 📉