Snap Inc. (NYSE: SNAP) Part II – Short Again

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. 📉

 

 

Luka Marjanovic

Partner

Luka holds a Bachelor’s in International Business and a Master’s in International Management. During his undergraduate studies he founded his own consulting firm, providing services to local SME's in various sectors; following and investing in the capital markets; as well as working as a research assistant in the field of Big Data. Prior to his education, he served as Second Sergeant in the Danish Royal Army, leading and managing a group, under extreme pressures and conditions. Luka has spent significant time abroad, living and working in seven different countries. When he's not in the office, he's chasing the next gusts windsurfing, carving the mountain snowboarding or out in the forest for a jog.

No Comments Yet

Comments are closed