SNAP - simply... garbage

SNAP posted (not surprisingly) another set of lousy earnings. The stock opened sig' lower (intra low $12.10), settling -14.5% at $12.93. The break of trend offers the $9s in the near term. M/t outlook remains 'suspect', and is only marginally less terrible than Blue Apron (APRN).


SNAP daily

Summary

Suffice to add... garbage results, for a company that is not much more than a cash hungry monster.

Just reflect on this often overlooked issue, whilst the US/world economy is growing, SNAP still can't manage even a fractional profit.

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In related news...

The same maniacs - Stifel, who were touting APRN a buy this summer, were also bullish SNAP

I'm actually more curious to see how long it takes the 'smart guys' at Credit Suisse to crawl out of their holes, and issue another target.

Bearish mainstream research, and bearish SNAP.