Sellers are extremely heavy on this stock and I would recommend finding a supply zone and entering short on this stock. The company itself is losing users.
I'm part of Gen Z myself and see myself and my friends using Instagram way more. Not even that, Snap doesn't have the hyper targeting that Instagram can do with the power of Facebook. Instagram is so much more backed.
Only thing supporting this stock is the 11.00 range. Strong demand zone, but if the company doesn't pivot fast enough, I can see that breaking as well.
I'm part of Gen Z myself and see myself and my friends using Instagram way more. Not even that, Snap doesn't have the hyper targeting that Instagram can do with the power of Facebook. Instagram is so much more backed.
Only thing supporting this stock is the 11.00 range. Strong demand zone, but if the company doesn't pivot fast enough, I can see that breaking as well.
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