No this is not clickbait, and I am not pumping up a low float name. This name actually has a large float and is actively traded daily. The company is Snapchat and the ticker is $SNAP. So why do I think $SNAP is poised for a big move this year? Pretty simple actually. Because there is great value in social media names this year and I think this sector can be a strong performer in the second half of the year.
So the truth of all social media names will start and end with Facebook. That being said, $SNAP has been shorted like no other and a squeeze can be coming… soon. There is a lot of money interested in seeing $SNAP move up and I think it is time for a strong run in this name. We are already well off the lows and we have much more upside in this name just to get to previous 52-week highs. I suspect we will be seeing new 52-week highs in this name coming up sooner than later. Eyes on $SNAP for the near and long term.