Media financials are having a field day with #SNAP tumbling below IPO levels of USD24.00. While the stock reached a milestone levels @29.44 before declining to its lowest levels on the third day of trading @21.30 have been hurt with analyst rating a 'SELL' for the company. Negative revenue, overvalued, and liquidation to sell after IPO have been the catalyst for SNAP to snap back and currently trading @21.64 to this writing.
Banks pushing stock prices on SNAP at their best offerings prior to IPO have indeed been seen as one of the prominent end-result for such decline. Leading analyst drawing a line of none revenue for starters have dampened investors to sell today's opening. Sad indeed as Snap Inc. had some similarity with #Alibaba as its stock rose but not nearly three days after a declined occurred. As for Alibaba (BABA) took at least three months before its decline to USD57.20 low. Although, today's prices for Alibaba have reached 103.00 nearing its highest level range of 110.00 - 120.00 respectively. Surely there may still be some other pertinent reasons for the decline but the stock would be able recover, not unless it does a Twitter type of decline which the company can surely do so.
Banks pushing stock prices on SNAP at their best offerings prior to IPO have indeed been seen as one of the prominent end-result for such decline. Leading analyst drawing a line of none revenue for starters have dampened investors to sell today's opening. Sad indeed as Snap Inc. had some similarity with #Alibaba as its stock rose but not nearly three days after a declined occurred. As for Alibaba (BABA) took at least three months before its decline to USD57.20 low. Although, today's prices for Alibaba have reached 103.00 nearing its highest level range of 110.00 - 120.00 respectively. Surely there may still be some other pertinent reasons for the decline but the stock would be able recover, not unless it does a Twitter type of decline which the company can surely do so.
Against market's decline SNAP pulls back a Price Recovery. A speculative move & we'll hold until market says otherwise.
ReplyDeleteCopy & Paste Link:
https://s.tradingview.com/x/91zbQ4uH/