Snapchat had a large dip since it’s launch in NASDAQ, closing at $16.99. For the first time, Snapchat has allen below its $17 IPO price. What does this mean?
This means that now is that time to bulk up on buying the stock. In the past, Snapchat has been trying to figure out how to make it profitable.. and little by little they have been coming out with newer and more advanced features.. and as they have been trying to progressively move forward, Facebook has competitevely building similar features to compete with them.
All in all, investors have taken a dip on this stock, since the onset of their IPO back in March. Yes, its has definitely been a downward trend for Snap, however looking at this situation from an angel, now will be the opportunity to buy and reap the benefits in the long term.
The company’s market cap is still about $23.8 billion, which is above Snap’s private market valuation, which was around $20 billion, fully diluted.
Although some investors may be concerned that too many people may be selling the stock, there’s still hope that the stock will go up again in the near future.