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.
Investment Research Dynamics’ Short Seller’s Journal has presented several ideas recently which offered subscribers significant gains from shorting or buying puts on the ideas. KATE and IBM are two examples. Find out more clicking the link above or the banner below
SNAP was a newcomer; it didn’t benefit from being a “media darling” stock that is propped up to show how good the market is doing.
The same media will very soon start saying how great SNAP is and it will trade 50%+ higher before next quarter earnings.It is all about the narrative peddled by the media and blindly followed by the public.
Didn’t take long for SNAP to move back over 20, lol. Stocks like these are like cockroaches that won’t die – they keep crawling higher and higher based on some fairytale narrative or the other.
I hope if moves into the mid-$20’s – it will be a good candidate for the Short Seller’s Journal.