SnapChat starts trading 3/2/2017

[SarasotaRepub]

As they say in the patch - GFL!

LOL, didn't get any today! It was trading in a
fairly tight range, 26.05 / 23.50 after opening at 24.

After all the hype I thought it might have gone higher.

One thing different about SNAP stock is it's
all non-voting. That was a big concern voiced by many.

[RobJohnson]

Here’s How Rich the Snap IPO Made Snapchat’s Founders

Snapchat CEO Evan Spiegel will be taking $1 a year home in the way of a salary.But who needs cash when you own a hot new social media company?
After Snap's IPO this week, the 26-year-old CEO and his co-founder Bobby Murphy were worth at least $5.2 billion apiece when the market closed Thursday, with Snap stock (snap, +44.82%) ending its first trading day at just under $24.50 per share.


That doesn't include the value of some 16 million shares that each of the Snapchat founders planned to sell today. That would add $392 million to each of their net worths, based on Snap's closing price, potentially boosting it to nearly $5.6 billion.

http://fortune.com/2017/03/02/snap-i...gel-net-worth/

[Retread]

Looks like your $19 bid has been left in the dust....

[SarasotaRepub]

Looks like your $19 bid has been left in the dust....

True but SNAP got hammered today, down $3.29
so far in After Hours trading. Currently at $23.80.

[Retread]

True but SNAP got hammered today, down $3.29
so far in After Hours trading. Currently at $23.80.

Another day and a half like that and you're back in.

Profit taking from day one.

[SarasotaRepub]

Snap slumps 12 percent, closes at lowest since IPO


March 06, 2017, 04:31:00 PM EDT By Reuters

By Noel RandewichSAN FRANCISCO, March 6 (Reuters) - Shares of Snap Inc
<SNAP.N> slumped 12 percent on Monday and closed at their lowest
level of the three sessions since the Snapchat owner's soaring
market debut last week.

The $3.4-billion listing last Thursday was the hottest
technology offering in three years, but the loss-making
company's lofty valuation and slowing user growth have raised
eyebrows on Wall Street.

Needham analyst Laura Martin rated Snap "underperform" and
compared its stock to buying a lottery ticket.

Of six analysts who have initiated coverage of Snap, four
recommend selling, while none have "buy" ratings and two have
neutral ratings, according to Thomson Reuters data.

Meanwhile, a group representing large institutional
investors has approached stock index providers S&P Dow Jones
Indices and MSCI Inc, looking to bar Snap and any other
companies that sell non-voting shares from being included in
stock benchmarks.

LINK

[SarasotaRepub]

Early this morning...

22.47, down 1.72.


Getting closer to 19!!! LOL

Now down 2.13, 21.63

[Retread]

That's two days below the IPO and they keep pushing the bottom (21.3 @ 10 am EST).

[SarasotaRepub]

21.15 at noon.

[SarasotaRepub]

Snap shares tumble as short sellers move in


Snap Inc's <SNAP.N> shares tumbled 11
percent on Tuesday and traders raced to position themselves to
cash in on further losses after analysts gave the company a
lukewarm reception following its red-hot market debut.

Snap's $3.4 billion public listing on Thursday was the
hottest technology offering in three years, but its lofty
valuation and slowing user growth have raised eyebrows on Wall
Street and are now attracting traders who expect its shares to
fall.

Traders paid annualized interest rates as high as 40 percent
to be among the first to short-sell the stock, according to S3
Partners, a financial analytics firm.

The owner of messaging app Snapchat is not profitable and
has warned it may never be.


LINK