$SNAP Part 1: America's darling - Snapchat!
Snapchat is an American photo and messaging app,
Among Snap's innovations for the world of social networks are Stories, filters, and disappearing messages.
Its innovations quickly conquered other social platforms!
2018 was a brutal year for the company: a tweet by celebrity Kylie Jenner - "Is anyone still using Snapchat?"
Along with competitors raising their heads, these were the main reasons for an annual performance of about -70% down to a price of less than $5 per stock.
On the comeback and pullback: as befits a fresh IPO, Snap continued with volatility until March 2020, where it began trading with gains of almost 800% in just one year!
In addition, last year Snap developed its competitor to TikTok, "Spotlight," which has already been distributed in several countries in America and Europe.
On 1/11 Citigroup raised its rating for the company from Sell to Neutral.
Developing? Snapchat plans to give another boost to the second area it is involved in besides social networking: smart glasses.
The company recently acquired an augmented reality glasses manufacturer for $500 million
Betting that this field will be the next technological breakthrough? Time will tell.
Continuation and technical analysis in the next post: