SNAP

beerntrading said:
I'd be more inclined to take the short side of that...this will run out of steam at $21 support, 21.50 is fanciful, I think.
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You think its going to flatline here for the rest of the week?
I didn't buy the straddle btw, just thinking out loud... but I think its going to move $1 one way or the other by Friday. But yeah, that straddle is no grand-slam play 2b sure. Forget I said it. :D
 
vanzandt said:
I say this half tongue in in cheek and half serious... But I think the whole thing was designed and underwritten from the ground up to be the ultimate short squeeze ATM/game. One for the history books. It will be studied 25 years from now. There's no way it couldn't have been. No one in their right friggin mind would pay an enterprise value of 27 Billion dollars for an ad based business model that is losing north of $8 per share per year.
With 2/3's of the shares outstanding not even in the public float. Pfff.... the higher it goes..... the more common people are going to get F'd in the end. You can take that to the bank. Watch it gap up in the near future.... but in the end... this bitch will see single digits.
You can mark the post.
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And all the voting rights remain with the founders....WTF !!
 
beerntrading said:
Can't say that I am. Pretty normal earnings pattern.

Looks like it's headed to $21 resistance.

Edit: Also wish I'd had the balls (and cash) to pull the trigger on that one. Another opportunity lost to the wind...
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Yeah, the pattern is pretty normal, but I thought people won't buy SNAP after these earnings.
 
vanzandt said:
You think its going to flatline here for the rest of the week?
I didn't buy the straddle btw, just thinking out loud... but I think its going to move $1 one way or the other by Friday. But yeah, that straddle is no grand-slam play 2b sure. Forget I said it. :D
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I'm not confident enough either (and I'd never do a naked short--except to purchase an investment on a downward slide).
felixbocharov said:
Why are people keep buying it?
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Shorts closing out their winners?
 
This is another $SHAK type stock (with a hint of '99). Everyone knows it's bullshit, but the only shorts who end up making money are those who are patient enough to wait out the initial beatdowns to the upside.
 
i960 said:
This is another $SHAK type stock (with a hint of '99). Everyone knows it's bullshit, but the only shorts who end up making money are those who are patient enough to wait out the initial beatdowns to the upside.
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Very true. The question is how much upside.
There's a fortune to be made both ways here.
With the liquidity and volatility on both the stocks and the options, this is one to master. IMO its one of the best trading vehicles currently available for retail players.
 
If you go long this thing you should only be going long to take advantage of the market running over early shorts. It's a piece of shit in the long run, we all know that - but that doesn't mean it won't rake you through the coals if you try to be right about it.
 
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