Shares of $SNAP were downgraded this morning by BTIG Research to Sell. The firm basically threw in the towel on the name, stating that the stock can still be cut in half from here. Just yesterday, Wedbush upgraded the stock, upping price targets. And, here I am getting smoked on my recent position from $11.
So who is wrong? BTIG research of course. Am I selling? NO. I’ve never seen a phenomenon quite like $SNAP for the younger generation. I’m not sure they even know how to send a text message through a cellular service, because everything they do is through the $SNAP application. The older crowd is also finally starting to migrate over to $SNAP as it become more social and less about a scandalous/dating app.
SNAP has also done a number of format changes to the application, and has been more effective in placing Ads in my opinion. Facebook tried to by the company a few years ago for $18-19 Billion, and now the market cap sits at 11B. I am still a buyer here, especially on further weakness.
As for what worked today? Here are today’s top hybrid movers inside Exodus, all moving greater than 25%+ in score: CLICK HERE FOR RESULTS. Let’s continue to keep an eye on TSLA, IQ, HUYA & BIDU, which were all big movers in overall score today.