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

Chief Analyst

Luka holds a Bachelor’s in International Business from Denmark and a Master’s in International Management from ESADE. During his undergraduate studies he founded his own consulting firm, providing services to local businesses in various sectors; as well as working as a research assistant in the field of Big Data. Prior to his education he served in the Danish Royal Army as Second Sergeant, leading and managing a group of men, under extreme pressures and conditions. Luka has spent significant time abroad, living and working in six different countries.

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