Editor's Note: The clip below was recorded on April 2, 2018. Shares of Snapchat (SNAP) are getting annihilated today after missing revenue estimates in its latest quarterly report and warning things could get worse. Our analyst Hesham Shaaban has been bearish on SNAP since its IPO.
Unfortunately for investors long Snapchat (SNAP), there’s no magic “filter” to disguise how much the social media stock has fallen since February.
After briefly spiking to around $21 per share this winter, Snapchat has returned to form as one of Hedgeye Internet & Media analyst Hesham Shaaban’s favorite short ideas.
“SNAP is purely a sentiment-driven stock,” Shaaban explains in the clip above.
Shabaan has been bearish on SNAP since its IPO.
Watch the clip above for more.
Click here to watch a webcast on social media stocks with Shaaban and Hedgeye CEO Keith McCullough.