Are Shorts Paying Attention to Reality on SNAP

53% institutional holding and climbing, 60% of the float have sold short, are the Bears/Shorts paying ATTENTION to REALITY! Zacks estimates call for Snap’s Q4 revenue to climb 50%, with Q1 FY21 projected to jump another 48%. Meanwhile, its adjusted fourth quarter earnings are projected to climb 100%, with Q1’s loss expected to shrink significantly.Overall, Snap’s fiscal-year sales are projected to climb 42% this year to reach $2.4 billion and then jump another 41% in 2021 to $3.4 billion. These estimates would represent four-straight years of between 41% to 45% top-line expansion, which is pretty impressive.

TechCrunch reports that the feature is currently rolling out for iPhone users, and Android integration is “coming soon.” This suggests that any financial impact of the move could already begin making itself felt in Q4 2020. But the full effect may not be known before Q1 2021 or later.

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