SNAP
has earnings today and a GAP to fill from May 2023. Additionally, SNAPs price action has built a minor consolidation channel the past 2 months.
Will we see some strong movement to the upside???
The Longterm Bullish Case for Snap Inc. (
SNAP
) Despite facing strong competition from other social media giants, Snapchat has managed to maintain a loyal user base and continues to innovate its platform to attract new users. Here are some key points that support a bullish thesis for SNAP:
Snapchat has a large and growing user base, with over 347 million daily active users as of Q3 2023. The platform's unique features, such as disappearing messages and AR filters, have helped it maintain a strong presence among younger demographics.
Improved monetization: In recent years, Snap has made significant strides in improving its advertising offerings and revenue generation. The company's focus on augmented reality (AR) and camera-based advertising has helped it stand out in the crowded social media advertising space.
Expanding revenue streams: Snap has been diversifying its revenue streams through the introduction of new features and services, such as Snap Originals, Snap Games, and the Spectacles AR glasses. These initiatives have the potential to drive significant growth in the future.
Strong financials: Snap's financial performance has been improving, with the company reporting positive net income for the first time in Q3 2023. The company's revenue has also been growing steadily, driven by its expanding user base and improved monetization efforts.
Attractive valuation: Despite its strong growth potential, Snap's stock is currently trading at a relatively low valuation compared to its peers. This presents an attractive opportunity for investors looking to capitalize on the company's growth prospects.
Trade closed: stop reached
I must say, I was wrong on this one
RIP Calls 🪦