What happened to sanapchat and the stock exchange?
What we expect in the second half of the year??
The technology firm Snap announced a net loss of $ 2.209 billion in the first quarter of the year and disappointed Wall Street in its first presentation of results since its IPO. Shares of the company plummeted after unveiling their accounts at the close of the New York Stock Exchange, and that now lost more than 23% of its value. According to Snap, owner of the popular Snapchat application, the bulk of its losses in the last three months - some 2,000 million - is linked to expenses related to its IPO. Between January and March, the company achieved a turnover of slightly more than 149 million dollars, well above the 39 million of a year before, but below the expectations of the analysts. 166 million users Many experts also expected more than Snapchat's usage figures, which had 166 million active users per day in the first quarter of the year, up 36% from the previous year but only 5% Compared to the previous three months. The Venice-based company made its debut on the New York Stock Exchange last March, in one of the most anticipated IPOs in recent years. On its first day, Snap shares rose 44%, but since then have suffered ups and downs, with investors not entirely convinced about their ability to generate income, especially in the face of Facebook's successful bid for models similar to those of Snapchat , Both through its main application and Instagram.
conclusion
Our advice when Snap went public - positioning itself short when it hit the ceiling or staying on the sidelines - was correct. The company has already lost 26% of its initial opening price of $ 24. We already questioned the valuation of the company at 27,000 million when it went public, and we continue to question it even in its minimum market capitalization of 20,000 million dollars.
The company has few prospects for growth, its competitive environment is unfavorable and the administration does not seem prepared to run a company. There is absolutely nothing right now to justify Snap's current price.
Today July 5, 2017 shares are quoted in
SNAP $ 17.42 * 0.170.97%
We just have to wait and cross our fingers