SNAP just reported horrible numbers vs. Wall Street forecasts. Net income was actually a Net loss of $2.31 vs. a loss of 19 cents forecast. Revenues were light by $8 million, coming in at $149.6mm vs. $157.9 million expected. Active subscribers were also lower than expected. The Ponzi stock is down 18% as I post this:
IRD reviewed SNAP when it IPO’d and warned investors to avoid or short this stock: Avoid SNAP. Short Seller Journal subscribers were presented with an even more detailed analysis.
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