Well that escalated quickly…
Just over 3 months after its IPO to much excitement, SNAP has collapsed back to its IPO Price of $17…
Just ask these guys what you should do next…
However we know one hedge fund manager that will be looking…
David Tepper, the founder of the famous Appaloosa Management hedge fund, told CNBC on Wednesday that he bought the stock at its IPO, then he later sold shares when Snap spiked a few days later.
However, he said that he still likes the company and Snapchat’s firm hold on the younger generation. So much so that he would be willing to buy more stock if the price were to fall toward the $17 IPO mark again.
Good luck – with the lock-up expiration looming we suspect there will be plenty of stock on offer.
via http://ift.tt/2rAWaiG Tyler Durden