Snapchat's 2020 Comeback: There Were 2 “Writings on the Wall,” But Only 1 Was Right

Our Elliott wave picture of Snapchat called for a tripling of prices — back in April. And look at it now! by Nico Isaac Updated: December 29, 2020 In this brave new marketplace of just-add water startups, some say the days of long-term forecasting is long gone. The reason being, it’s impossible to predict where these brand-new, Gen-Z stocks will be one day to the next as they’re constantly in the line of fire of external factors like new product launches, increased competition, rampant scandals, lawsuits, and so on. In turn, opportunities in these stocks come and go as rapidly as a picture sent through the vanishing photo app Snapchat. Or, do they? Let’s take Snapchat while we’re on the topic. This is a chart of the photo app’s listed stock, SNAP. After moving sideways pretty much since its 2017 IPO debut, SNAP finally snapped out of its road-to-nowhere trend and began climbing this April. By December, the stock had soared five-fold to record highs in a winning streak that blew its larger social media peers like Facebook, Twitter, and Instagram out of the water. SNAP’s incredible comeback has secured the praises of Wall Street’s top analysts, who now say…
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