SNAP

[vanzandt]

OK... I don't mind posting this here because this is not a low float easily manipulated stock by any means.
But why in the world would no one buy puts on this thing today?
Did I wake up in the Twilight Zone?
Don't answer that.

I'm out....
60% gain on the trade minus commissions.
Should have held on.

 

[Jamie J.]

Well, it still looks too risky to buy or to add more. Isn't it?

 

[Albert A. Sanchez]

I think the pump is over. Time to see the dump. No way in hell can this maintain a $30 billion mkt cap

 

[Jamie J.]

Well, solid gains are unlikely to be expected this week. But I can count at least on a small recovery.

 

[Albert A. Sanchez]

this was an epic pump & dump. RIP

 

[Jamie J.]

this was an epic pump & dump. RIP

And it seems that dump is not going to stop in the nearest time.

 

[FSU]

I agree. I thought the vol would be higher. Next week 23 straddle for 1.40 seems cheap to me as well.

Well, everyone on this board seemed to call this one. Straddle went from 1.40 to over 4. Puts were even a bigger winner.

 

[Jamie J.]

Nothing comforting here. And the investors are concerned about the slowdown in users' growth and lack of profit.

 

[Stymie]

Nothing comforting here. And the investors are concerned about the slowdown in users' growth and lack of profit.

I always laugh when the media reports concerns for user growth and profits as to why a stock drops. This is not new information so how is this the headline? What we do know is that the underwriters had free stock options at the 17 strike and pumped the stock above 27 to make $300 million. Now why don't they just report that this was your typical pump/dump? That is what happened and the underwriters walked away with their money... end of story..

 

[Albert A. Sanchez]

Well..where is the bottom?