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Coach
Not being a smart ass at all but are you new here? Because we talk about SNAP puts every day and some days it prints but lately we've been getting our ass whooped
I’m new here haha
Thanks for the background, much appreciated
Enthusiast
OP - you are very accurate. I looked up the stats last week, and it doesn't even land in the top 5 of active daily users. And they are slowly declining, losing ground to instagram and tiktok.
It also saw a revenue drop in Q1 of 2020 (although from PYs looks like Q1 is their weakest quarter). I think from a business standpoint their ad revenue is increasing due to more avid users during quarantine and they have some VR tech that is valuable.
However, the biggest increase in price I'm sure is retail investors. SNAP is a popular name because every young person knows about snapchat and the stock is trading at $20 (compared to AAPL at $325). So pretty much anyone with a trading account can scoop up some snap stock.
As KPMG1 mentioned, we had played this for a few weeks and made good returns. However, it broke out of its trend. It will come back down to 18 and potentially more in the ST, but I got out of all my options on it.