Who Got SNAPped?
Yesterday, Snapchat (NYSE:SNAP) have published their earnings report for 1Q which wasn’t a big success for SNAP. The first report as a public company was a disaster for their stock value with a crash of 23% aftermarket!
The stock’s record highs since their IPO seems to be old news for the company and the investors which bought it in that price, lost more than 40% on their investments in a timeframe of 60 days only!!
What caught the eye of analysts was the sluggish growth in users. Snapchat added only 8 million users to its average monthly user count during that quarter, going from 158 million to 166 million.
Our analysis team’s forecast for snapchat report was negative and we believe that it will remain negative until SNAP’s stock value will reach the price of 13$ per share.
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