Snap Chat Amongst the Pigeons?Snap Inc IPO’d yesterday, 2 March 2017.
The IPO got off to a cracking start and the shares traded 44% higher.
That makes Snap’s IPO the biggest since 2012.
Will it be another Twitter or Facebook, only time will tell?
(…although the lack of profits might give canny investors a wee clue…)
It’s tempting to short the US tech firm but the market is far too volatile right now and it’s probably best to wait… particularly with the IG chart below showing a rather buoyant market.
See below for a live chart and current prices.
The Snap IPO Had the Power
What’s the Worst that Could Happen?There was a good comment today, 3 March 2017, from Michael Hewson, Chief Market Analyst, CMC Markets.
“The level of enthusiasm for a tech firm that remains a long way from being profitable and has little in the way of assets remains somewhat surprising.
“The Snapchat app maker now has a larger market cap then eBay, what can possibly go wrong?”
Live Snap Inc Chart and Prices
Where Can I Spread Bet on Snap Inc?IG, CMC, Financial Spreads and CoreSpreads have markets. Plus 500 also have a CFD market.
It may take a little time for the other brokers to wake up.
Note that shorting the stock will probably be limited for some time.
The spreads and CFD firms often limit shorting after IPOs, it’s easy for them to layoff long positions but almost impossible to layoff a nasty short position.