Q2 earnings were bad and SNAP shares fell. But they haven't been falling in the past few days: staff were allowed to sell on Monday, and even allowing a few days for the paperwork with brokerage accounts, they are not selling now. Maybe the big drop is already priced in. Since my short-term options are up 45% on volatility, and most options expire worthless, take the small profit now.
At what price would I turn around and buy Snap? The app and the user-base has value. But since the common shares have no voting rights, they're probably worth zero.
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