I came into the year stating $SNAP was my stock of the year for 2019 (CLICK HERE). At the time it was trading around $5 and change. I’ve shared many reasons with the Exodus trading room on why I think it is a buy, I will not go over them again.
Yesterday’s report and conference call gave me confirmation that everything is on track and going as planned. We had a small hiccup with a change at the CFO position, but the stock was beat up so bad, the news proved to be a non-event. In the call, we did not get much in terms of additional guidance, but we did get some good updates on the app, specifically the android application. Soon lower end phones users will be able to get a rich experience on the app. With many updates and redesigns on the App, things are now in motion to scale the ad platform. And, scalability is what we will be looking for going forward.
All that said, and I’m locking in some gains, selling half my position here @ $9.05. I’m still very bullish on the company, but wanted to lock some in after this move from $5. I will be using weakness in the name to re-add to my position.
Long live $SNAP, millennials, and my stock of the year picks.If you enjoy the content at iBankCoin, please follow us on Twitter