iBankCoin
Joined Jan 27, 2008
7,051 Blog Posts

SnapChat CEO, Even Spiegel, Unloads Profitability Report In The Face Of Negative Downgrades

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.

See you short sellers tomorrow. Good day.

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One comment

  1. HACKWORTH

    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%

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