Right out of the gate, shares of SNAP didn’t stand a chance.
In fact, we told you that on multiple occasions, given the poor balance sheet full of losses and a host of other issues. The stock slipped under its IPO price. Traders got burned on the way down. Typical IPO trading…
Now that it’s become another hated stock, it’s actually time to buy the stock that we wrote off as unworthy. For one, every one hates it. Two, it appears to have technically found its bottom as the rest of the market sells off 200 points. And three, the stock finally got its first buy rating from analysts at Moness, Crespi, Hardt, which initiated the rating with a $25 price target.
It may not be the best trade on the market at the moment. But it’s worth picking up, as others wake up to the upgrade news. It's a long-term buy at market prices.