SNAP CHAT Takes Off into the Stratosphere

On 11/8/17 we posted a blog "SNAP Being Snapped Up?" about the potential for SNAP CHAT stock with ticker symbol SNAP to move higher based upon the following observations:

1. SNAP opened the day of it's IPO at the subscription price of $17 and the insiders sold their shares after SNAP traded up to $24, which was 70% higher.  The owners of SNAP were now wealthy in 1 day.  The stock promptly dropped and never recovered.    
2. Since the IPO SNAP has been on a steady downward decline and the initial Retail investors probably got out with a loss after purchasing SNAP in the $20's, the low print  was around $12.50.
3. Chinese company 10CENT (app We Chat) worth over 500 billion dollars quietly purchased 12% of SNAP stock several months ago.  
4. The news for SNAP has been very negative. 

These observations let to the analysis that SNAP was being quietly accumulated by Smart Money interests.  Smart Money buys at the low when the news is negative and no one is paying attention.    ​ 

Today a news release about SNAP caught our eye and we found the price had gone parabolic.