short bets against Snapchat.
Short interest - 30 mil. shares( 15.4% of the shares available)
Snapchat ipo at $17 ( debut at $24).
Shares climbed as high as $28.84 on March 3, its second day of trading, but have been retreating ever since.
The price has tumbled by nearly a third as analysts across have come out against the stock.
4 reasons that limit Snapchat's upside:
- "Already slowing growth in daily active users (DAUs)."
- "Slowing monetization (ARPU) growth."
- "Fierce competition( Fb, Instagram ,WhatsApp)"
- "Rich valuation relative to current and future growth."
common shareholders don't have voting rights as a reason to be downbeat on the stock.
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