Thank You Mr. Spiegel, for putting two very bright analysts in their place today with your profitability update. I had to fend off short sellers all day today, thanks to another downgrade from Citigroup this morning. I’ve heard many outlandish statements over the past few days from the $SNAP bearshitters, some even mentioning bankruptcy for the company. I swear Mr. Elon Musk is right, these bears are “unreasonably maligned”.
You see $SNAP is an epidemic, just like Fortnite, to these kids– and now adults. This isn’t your next $GPRO. There is a reason why Mr. Spiegel has turned down multiple billion dollar buyouts. Here are some notes from $SNAP, now trading back over $8 in after-hours:
Snap Inc. (SNAP) shares rose in the extended session Thursday after a memo from the chief executive that set a goal of profitability for the full year of 2019. According to an email published by Cheddar (https://cheddar.com/videos/snap- ceo-evan-spiegel-company-memo-on-2019-strategic-goals-and-profitability), CEO Evan Spiegel said that Snapchat’s parent company was “executing toward our stretch goal” of a break-even final quarter of 2018, and had set full-year profitability for 2019 as an objective. In the long email celebrating the 7th anniversary of the launch of Snapchat, Spiegel acknowledged a difficult experience in redesigning the app in 2018, and established a priority on messaging for the company moving forward.
$SNAP bottoms today on the backs of two STOOOPID analysts.
— RC (@RaginCajun) October 4, 2018
See you short sellers tomorrow. Good day.
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I found one of my kids downloaded Snapchat. I immediately deleted it.
Social media is a disease that must be stamped out. The sooner the better.
No Twitter, No FakeBook, No Instagram, No Snapchat, No WhatsApp
SNAP YTD: -48%
VGT YTD: +18%