Media is having a day of bashing Snap inc. Well, it is down more than 10% since the IPO pop.
I am not sure why people are so surprised. The prospectus had issues and even analysts were quite bearish.
However, I would not pay too much attention to drops. Stocks are inherently volatile after IPO. There is still limited information and the market is still trying to figure out the IPO. Until lockup expires and quarterly results start coming in, I would not give so much weight to the daily fluctuation of Snap.
Well, if you are a swing trader then Snap is a good place with all the volatility. Unfortunately, I am not a swing trader yet (I only do things that will make sure that I will not lose my sure).
Remember that markets are quite noisy in the short term. I will keep an on eye Snap. Can’t wait until comment letters come out~