That Was SNAPtacular...

August 3, 2017 10:25 AM


Less than a month ago, I warned of SNAPageddon in SNAP Inc. (SNAP – USA) as venture capital shares unlocked and were dumped on the market. Shares of SNAP have now declined by approximately 30% since then—hence my puts increased in value by a few hundred percent.  

woohoo

While I expect earnings next week to be abysmal, followed by more share unlocks, I’m cognizant of not being greedy after a few hundred percent gain in such a quick period of time. I’m ringing the register here and exiting the trade.

On a side note, as a result of my research on Snapchat, I learned of a new chart formation, the puking ghost.

puking ghost

 

Categories: Current Investments
Positions Mentioned: none
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