No Snapback for $SNAP Tanks 19% After Earnings Revenue Miss

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  • #13306
    Super Harley
    Participant

    [article]373[/article]

    #13307
    ClemSnide
    Participant

    $SNAP No Snapback love it – almost back to those lows after the embargo. I think what is clear is SNAP has that less affluent demographic – the teens – which $FB wants – $SNAP needs to keep them and move from there.

    Spectacles – I had never heard of that – sounds to me that Snapchat founder kind of lucked into an idea and are very poor businessmen.

    #13309
    Assistanc3
    Participant

    WTF is $SNAP spending $239 MILLION DOLLARS on research and development?

    #13313
    ThePitBoss
    Participant

    Same way they through away 39 million on spectacles

    #13314
    ThePitBoss
    Participant

    Now this is a snapback:

    China’s Tencent has taken a 12% stake in Snap (NYSE: SNAP), according to the company’s 10-Q. The news follows disappointing results from the social media player after the close.

    Tencent has acquired 145,778,246 SNAP shares in the open market, the filing highlighted. With 1.2 billion total A, B and C shares outstanding, this equals a 12% stake. The stake represents nearly 17% of the tradeable ‘non-voting’ A shares. Further, the stake represents over 28% of the float.

    Snap said that Tencent’s President, informed the company that Tencent is excited to deepen its shareholding relationship with the company, and that it looks forward to sharing ideas and experiences.

    https://www.streetinsider.com/Corporate+News/Chinas+Tencent+Takes+a+12%25+Stake+in+Snap+%28SNAP%29/13478510.html

    #13315
    ThePitBoss
    Participant

    [tweet]928231255015116801[/tweet]

    #13316
    ThePitBoss
    Participant

    From 10Q filing:

    Our long-term shareholder Tencent Holdings Limited (“Tencent”), a global Internet company based in Shenzhen, China, has notified us that it has recently acquired 145,778,246 shares of our non-voting Class A common stock via open market purchases.

    We have long been inspired by the creativity and entrepreneurial spirit of Tencent and we are grateful to continue our longstanding and productive relationship that began over four years ago. For its part, Martin Lau, Tencent’s President, informed us that Tencent is excited to deepen its shareholding relationship with us, and that it looks forward to sharing ideas and experiences.

    Because our Class A common stock is non-voting, significant holders of our Class A common stock are exempt from the obligation to file reports under Sections 13(d), 13(g), and 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These provisions generally require significant stockholders to publicly report their ownership, including changes in that ownership. As a result, Tencent and Snap are not obligated to disclose changes in Tencent’s ownership of our Class A common stock, so there can be no assurance that you, or we, will be notified of any such changes.

    #13317

    #13318
    ThePitBoss
    Participant

    That was one brutal short trap!

    #13322
    ThePitBoss
    Participant

    Well that didn’t last long Snap Inc NYSE: $SNAP · November 8, 10:06 AM EST
    13.37 ▼ 1.74 (11.52%)

    #13371
    ThePitBoss
    Participant

    SNAP analysts after Earnings

    Positive
    Citigroup raised its price target to $14 from $13.

    Negative

    Barclays cut price target to $11 from $13.
    Canaccord Genuity cut price target from $15 to $12
    Credit Suisse cut price target to $17 from $20
    Deutsche Bank cut price target to $11 from $17
    Moffett Nathanson cut price target from $8 to $7
    Oppenheimer cut price target to $14 from $16.
    Pivotal Research cut price target to $8 from $9.
    Wedbush cut price target to $9 from $12.

    JPMorgan downgraded to Underweight from Neutral cut price target to $10 from $14.
    Stifel downgraded to Hold from Buy and lowered its target to $13 from $18.
    UBS downgraded to Sell from Neutral and lowered its target to $7 from $12.

    #13776
    ThePitBoss
    Participant

    $SNAP No Snapback love it – almost back to those lows after the embargo. I think what is clear is SNAP has that less affluent demographic – the teens – which $FB wants – $SNAP needs to keep them and move from there.

    Spectacles – I had never heard of that – sounds to me that Snapchat founder kind of lucked into an idea and are very poor businessmen.

    #13777
    ThePitBoss
    Participant

    Snap Inc. $SNAP raised to Overweight from Equal Weight with an $18 price target at Barclays

    Snap has a post-IPO range of $11.28 to $29.44.

    #14450
    MoneyNeverSleeps
    Participant

    Snap Inc. $SNAP downgraded to Underperform from Market Perform at Raymond James

    Note user growth will remain challenging. On Thursday Morgan Stanley lowered its target to $10 from $11 and underperform rating)

    Snap’s 52-week low

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