· Snap Inc.’s CEO Spiegel sells 150,000 shares worth $1.6 Million
· Snap Inc.’s pre-market opening price declined by 0.52%.
Snap, Inc. (NYSE: SNAP) is a company known for Snapchat, a camera app that lets people share short videos and pictures, called Snaps, with friends and family. Their primary income comes from advertising.
Based upon the current market scenario, the market price of Snap Inc. is trading in a downward direction. The price of SNAP is making new lower lows in the weekly time frame.
The current market price of SNAP stock is $9.58, reflecting a pre-market decline of $0.58. The market cap of Snap Inc. is $15.54 Billion, and its reported revenue is $4.6 Billion. The company’s beta is noted at 1.48, indicating its sensitivity to market fluctuations.
As per the income statement, the quarterly profit margin percentage of the SNAP stock is declining. The profit margin percentage for Q2 2023 is -35.34%. This means the company loses 34% of every dollar it earns.
The stock hit a high of $83.34 in September 2021, and immediately after this, the price started declining. The price fell by almost 90% by the end of October 2022. Currently, the stock pricing is moving inside a parallel channel pattern. The price tried to break above the resistance, but it failed. Now, the price is approaching the support level. The overall sentiment of the stock is negative, and the price is likely to decline soon.
Snap Inc. (SNAP) Stock Price Analysis
Snap Inc.’s (SNAP) stock is trading below the 50-day and 100-day EMA levels, indicating a bearish trend and the potential for further price declines.
Looking at the MACD indicator, the MACD line for Snap. stock is below the signal line, and a red histogram forms. This suggests that Snap Inc. stock is in a bearish phase, with the likelihood of price decreases in the coming days.
The 14-day SMA and RSI lines for Snap Inc. (SNAP) stock are approaching the 30 level. A weak RSI line implies that the stock’s price will likely decrease.
Conclusion
As per the analysis, the SNAP stock price is moving in a downtrend. The price has shown a fall of 25% in one year. The stock’s earnings are also declining, and the overall sentiment of the stock is negative. The price is likely to decline in the future.
Technical Levels
· Support Level: $7.82
· Resistance Level: $13.24
Disclaimer
The views and opinions of the author or anyone in this article are for informational purposes only. They do not offer financial, investment, or other advice. Investing or trading crypto assets involves the risk of financial loss.