We are facing another Wall-St manipulation on Snapchat.
BTIG analyst Rich Greenfield downgraded Snap - price target $5 so the big boys can load up and steal million cheap shares .
Remember when BTIG was downgraded FB in the past , and later they came out said : ''not having a buy on Facebook has clearly been a mistake in 2017 and we are simply not going to allow that mistake continue''
I am very confident on Snap. Snap has unique futures than any other social media app in the market .
Unique features? I'm sorry but Snapchat is going to eventually die. Yeah it may have done well in it's last earnings call but losing 2 million users is a lot of lost money as well. A lot of people that I know stop using Snapchat go because of the UI and they all now just use IG instead. Also, it wont take long until those ads take their business to IG and FB instead since those two alone have way more users than Snapchat. Snapchat also recently moved offices, thus spending more money. Yeah BTIG said this and that, I can see how that can bring down the value of snapchat but even before BTIG downgraded snapchat, it was already going downhill hard...very hard. I'm going long on puts and so far has made me money. TA here can be a bit useful but it did have false breakouts in the past few weeks.
rudyae86
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@rudyae86, Also look at the candles, there is resistance trying to go above in every candle and the volume on the sell off is getting bigger and bigger. Even if RSI is oversold, it doesn't always mean its going to go overbought soon, sometimes it will stay below 30 for quite a while...
Wisenasdaq
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@rudyae86, come back after 24 months and lets talk about Snap again.. First time they lost user was on last quarters. Evan Spielberg has a vision .Wall St dont like Evan much , just like then dont like Elon Musk either.Why do you think Evan refused to sell Snap couple yrs ago to FB ? FB copied and pasted some Snap futures on their platform .
Evan is the most genius guy when it comes to social media app. You guys all will be surprised in 24 months what changes he will make . If you are an investor , one thing you should always remember that invest on CEO not on company. I will load up Snap shares anytime it dips.
Good luck !
...''opinions are my own , trade at your own risks''.....
@ibrahimgazi, well in the next 24 months, we can all buy puts until it reaches 5 per share and then snapchat will officialy be priced accordingly. CEO or not, at the end of the day, if people don't use snapchat as much as IG or FB, chances are those ads from snapchat will move to other platforms instead