Snap shares are down -35% since we added the company to Investing Ideas in May. Below is a note from Hedgeye CEO Keith McCullough on why we're removing Snap (SNAP) from Investing Ideas today:
|
"Here’s a big win for us to book on the short side. I’m generally not a fan of “short-and-hold” when we’re in a raging bull market for US stocks. No one ever went broke booking gains. I’ll be more than happy to put this back on the SELL list post any kind of a squeeze. #NiceJob shout-out to our Internet Analyst, Hesham Shaaban." |
There is no change to Internet & Media analyst Hesham Shaaban's fundamental research view. Click here to read Shaaban's Investing Ideas stock report on Snap. For more, here's some interesting perspective from Shaaban in a recent Investing Ideas update:
|
"With sentiment so much in the gutter, we're becoming incrementally more concerned about a potential short squeeze into the next print on anything less than terrible results. We have no view into the 2Q print; our position is based more on the back-half of 2017 into 2018. That said, we're staying short here, but wouldn't be surprised if we gave up some of our recent gains over the next month." |
