I learned a hard lesson when I waited for and invested in $SHAK upon coming public. If you recall, I had bought into $HABT first, bullish on the prospects for hamburger stocks. Truth is, their IPOs were just too damned high and the stock prices were doomed from the get go — just like $SNAP. I take nothing away from short term traders playing it for a post IPO run. But eventually, like all overpriced IPOs, it’ll die.
All of Wall Street started coverage on the social media giant today. Here is the quick rundown.
Outperform, tgt $26, Cowen
Outperform, Blair
Buy, tgt $27, Goldman
Overweight, tgt $28, Morgan Stanley
Neutral, tgt $25, BofA/Merrill
Neutral, tgt $24, JP Morgan
Neutral, tgt 24, UBS
Perform, Oppy
Sell, tgt $17, Summit Redstone
Mkt Outperform, tgt $28, JMP
Outperform, tgt $30, Credit Suisse
Hold, tgt $24, Stifel
Outperform, tgt $31, RBC
Buy, tgt $27, Citi
Buy, tgt $30, Jefferies
Snap’s underwriters were Morgan Stanley, Goldman, JP Morgan, Deutsche Bank, Barclay’s, Allen and co.
Co managers include BTIG, Citi, Cowen, Evercore, Jefferies, JMP, Liontree Advisors, Oppy, RBC, Stifel, Suntrust, Williams Capital, Blair.
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What’s the statutory quiet period for underwriters?
25 days
I don’t think that rule applies anymore.
I believe that quiet period ended today. And oh look, $SNAP is up in the premarket by over 2% while the rest of the market is down.
OA nailed this one.
Scratch that, up almost 4% now.
Another amazing OA call.
OA definitely knows how to make lemonade from lemons.
The man has a gift.
this is such a bullshit app – does anybody over 17 use this? SNAP will never make any profit and it’s worth billions. What gives..? Another CIA backed surveillance company.
Long term doesn’t matter. Bears have no business being in this stock today. Running them out.
Bears still clinging. This thing is going much higher.