Snap: What It Will Take To Stop Treading Water – Seeking Alpha

Justin Sullivan/Getty Images NewsRight back where we started. Snap, Inc. (SNAP) has had an eventful few months to say the least, with Meta Platforms (FB) disastrous Q4 earnings report sending the stock plunging down all the way to $24, only to rebound back up to $39 a day later when Snap reported its own, far stronger earnings. It held up there pretty well until the end of February, but since the opening of March, the stock has slowly trended back down again, now sitting in the low $30s as of this writing – exactly where it was before the Meta report started all the commotion. The big bounce in Snap stock after its earnings report did not strike me as entirely unreasonable. The report was strong, pretty much across the board, and certainly refuted the suggestion that Snap was suffering the same difficulties as Meta. Half of the Snap “bounce” then, was just retracing the plunge from the day before. It is the other half of the bounce that has since been given back. Five Years Of Treading Water It is, in some ways, appropriate that we have ended up back at the $30 mark, in keeping with the theme…
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